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16.04.201813:17 Forex Analysis & Reviews: Technical analysis of NZD/USD for April 16, 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 16.04.2018 analysis

NZD/USD is expected to trade with a bullish outlook. The pair retreated from 0.7395 (the high of April 13) and broke below its rising trend line since April 11, which confirmed a bearish outlook. The declining 50-period moving average is acting as a resistance. The relative strength index is mixed with bearish bias. Hence, as long as 0.7370 is not surpassed, look for a drop with targets at 0.7320 and 0.7300 in extension.

Chart Explanation: 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 show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7395, 0.7415, and 0.7450

Support levels: 0.7320, 0.7300, and 0.7265.

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