Technical analysis of NZD/USD for November 21, 2017


NZD/USD is expected to trade with a bullish outlook above 0.6780. The pair stands firmly above its horizontal support at 0.6780, which has formed and has allowed for a temporary stabilization. The relative strength index is mixed, but lacks downward momentum. Therefore, even though a consolidation cannot be ruled out at the current stage, its extent should be limited.

As long as 0.6780 is not broken, likely advance to 0.6840 and 0.6860 in extension.

The black line shows 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 are 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: 0.6840, 0.6860, and 0.6900

Support levels: 0.6755, 0.6730, and 0.6695

The material has been provided by InstaForex Company -