For Traders

Analytical Reviews

Technical analysis

20.11.201714:40 Forex Analysis & Reviews: Technical analysis of NZD/USD for November 20, 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.

NZD/USD is rebounded from 0.6795 and expected to trade with a bullish outlook. The pair has struck against its key support at 0.6795, representing a horizontal level and the current 50-period moving average. The relative strength index is bullish, without showing any reversal signal.

In which case, as long as the support at 0.6820 is not surpassed, the risk of the break above 0.6865 remains high. Our next up target is set at 0.6880.

The black line shows 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: 0.6865, 0.6880, and 0.6915

Support levels: 0.6780, 0.6755, and 0.6720

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.