For Traders

Analytical Reviews

Technical analysis

12.10.201716:14 Forex Analysis & Reviews: Technical analysis of NZD/USD for October 12, 2017

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.

USD/CHF is expected to trade with a bullish outlook. The pair is rebounding above its 20-period and 50-period moving averages. In addition, the 50-period moving average is turning up. The relative strength index is supported by a bullish trend line since October 11.

To conclude, as long as 0.7080 is not broken, look for the continuation of rebound with targets at 0.7145 and 0.7165 in extension.

The black line is showing the pivot point. Currently, the price is above the pivot point, which indicates 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: 0.7145, 0.7165, and 0.7190

Support levels: 0.7030, 0.7000, and 0.6955

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.