For Traders

Analytical Reviews

Technical analysis

18.01.201807:58 Forex Analysis & Reviews: Technical analysis of NZD/USD for January 18, 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.

NZD/USD is consolidating. The pair posted an intraday "V-reversal" pattern yesterday and is likely to post some consolidations in sight. The relative strength index has broken below its neutrality area at 50 and is now mixed to bearish.

Therefore, as long as 0.7330 is resistance, expect a new pullback to 0.7260 and 0.7230 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: 0.7350, 0.7370, and 0.7385.

Support levels: 0.7260, 0.7230, and 0.7200.

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.