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Technical analysis

04.04.201808:27 Forex Analysis & Reviews: Technical analysis and trading recommendations for the NZDUSD currency pair as of April 4, 2018

Long-term review

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As expected, the NZDUSD currency pair continued its upward movement towards the local maximum level of 0.7300, where a periodic ceiling was already near it. Now, we can see a rollback with gradually increasing short positions. Probably, there would be a temporary bump in the values of 0.7270 / 0.7300, but in the case of working off the value, a correction would take place towards the level of 0.7250 / 0.7240.

But at the same time, traders should not lose sight of long positions, if the "bullish" interest does not fall and the quotation will be able to clearly lock above 0.7300, the way to 0.7340 / 0.7350 opens.

Key Levels

Resistance zones: 0.7300 *; 0.7340; 0.7430; 0.7550.

Support zones: 0.7250 *; 0.7180; 0.7130 *; 0.7050.

* Periodic level

Draw your attention: Predictions are not a direct guide to action!

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