Technical analysis of NZD/USD for September 15, 2017


NZD/USD is expected to trade in a lower range as the pair is below its resistance level. Despite the recent bounce, the pair is still trading below the declining 50-period moving average. The upside potential should be limited by the key resistance at 0.7255. Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Therefore, below 0.7255, expect a further drop to 0.7210 and even to 0.7190 in extension.

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

Resistance levels: 0.7275, 0.7305, and 0.7350

Support levels: 0.7210, 0.7190, and 0.7150

The material has been provided by InstaForex Company -