Pivot point: 0.7672
Overview:
In the long term, the NZD/USD pair called for a bullish market from the level of 0.7635 and closed at 0.7672 (pivot point) yesterday. So, the NZD/USDF pair is going to continue moving in the bullish trend from the level of 0.7635 or 0.7672. It also should be noted that the pivot point is set at the same level of 0.7672 on April 21, 2015. Accordingly, it will be a good sign to buy above the level of 0.7635 with the first target at 0.7702 to test minor resistance at this level. Moreover, the double top will be set at 0.7740. Also, it will call for an uptrend in order to continue its bullish movement towards the second target at 0.7740 in order to test the double top. At the same time, the stop loss should be placed below the support at 0.7600. Equally important, strong support will be set at 0.7618 (61.8% of Fibonacci retracement levels). Additionally, it should be noted that the range is likely to move between 0.7635 and 0.7740 today.
Intraday technical levels:
Date: 21/04/2015
- R3: 0.7789
- R2: 0.7756
- R1: 0.7707
- PP: 0.7674
- S1: 0.7625
- S2: 0.7592
- S3: 0.7543
