Technical analysis of NZD/USD for February 13, 2018

NZDUSDM30.png

Our first upside target which we predicted in yesterday's analysis. NZD/USD is expected to trade with a bullish outlook. The pair posted a rebound from 0.7230 and broke above its 20-period and 50-period moving averages. The relative strength index is bullish and call for a for a new upleg.

Hence, as long as 0.7255 is not broken, look for a new advance with targets at 0.7325 and 0.7355 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: 0.7325, 0.7355, and 0.7385.

Support levels: 0.7225, 0.7200, and 0.7175.

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