Technical analysis of NZD/USD for February 12, 2018

NZDUSDM30.png

NZD/USD is expected to trade with a bullish bias above 0.7225. The pair rebounded from 0.7225 after touching the rising 50-period moving average. The relative strength index is above its neutrality level at 50 and lacks downward momentum.

Hence, as long as 0.7225 is not broken, look for a further advance with targets at 0.7280 and 0.7300 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 show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7280, 0.7300, and 0.7340.

Support levels: 0.7200, 0.7175, and 0.7160.

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