Technical analysis of NZD/USD for September 21, 2017

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All our targets which we predicted in yesterday's analysis has been hit. The pair broke below its 20-period and 50-period moving averages. In addition, the 20-period moving average is turning down. The relative strength index is below its neutrality level at 50 and lacks upward momentum.

To conclude, as long as 0.7360 is not surpassed, look for a further decline to 0.7275 and even to 0.7245 in extension.

The black line is showing the pivot point. Currently, the price is above the pivot point, which indicates long positions. If it remains below the pivot point, it will indicate short positions. The red lines is showing the support levels and the green line is indicating the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7390, 0.7410, and 0.7455

Support levels: 0.7275, 0.7245, and 0.7180

The material has been provided by InstaForex Company - www.instaforex.com