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Technical analysis of NZD/USD for October 2, 2014

1412197654_nzdusddaily.png

Forecast in the long term :



  • According to previous events, the NZD/USD pair has still been trapped between the levels 0.7805 and 0.7714.

  • Strong resistance will be formed at the level of 0.7805 providing a clear signal for sell deals with the targets seen at 0.7750 nad 0.77.

  • Stop-loss is to be placed above 0.7853.

  • In the short term, strong support will be formed at the level of 0.7666 providing a clear signal for buy deals with a small target seen at the 0.7730 level in order to retest support.


Notes :



  • We expect a range about 60 pips today.

  • The risk of 40 pips must make a profit of 60 pips.

  • The level of 0.7800 will confirm the bearish market.

  • Volatility is 122.81. As a rule, the market is highly volatile if the prior day had a huge volatility.


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