Technical analysis of NZD/USD for December 22, 2017


NZD/USD is expected to trade with a bullish outlook. The pair is supported by a bullish trend line, which confirmed a positive outlook. The upward momentum is further reinforced by both rising 20-period and 50-period moving averages. The relative strength index is bullish and calls for further upside.

To sum up, as long as 0.6985 holds on the downside, look for a new challenge with targets at 0.7050 and 0.7070 in extension.

The black line shows the pivot point. Currently, the price is above the pivot point, which is a signal for 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: 0.7050, 0.7070, and 0.7100

Support levels: 0.6970, 0.6950, and 0.6920

The material has been provided by InstaForex Company -