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12.01.201815:07 Forex Analysis & Reviews: Technical analysis of NZD/USD for January 12, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 12.01.2018 analysis

All our targets which we predicted in the previous analysis have been hit. NZD/USD is expected to continue its upside movement. The pair broke above the key resistance at 0.7230 (the high of January 10), which becomes the key support now. The upward momentum is further reinforced by both rising 20-period and 50-period moving averages. The relative strength index advocates for a further advance. To sum up, as long as 0.7230 is not broken, look for a new challenge 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 are showing the support levels, while the green line is indicating the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7280, 0.7300, and 0.7330.

Support levels: 0.7210, 0.7180, and 0.7150.

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