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18.04.201411:32 Forex Analysis & Reviews: Technical analysis of NZD/USD for April 18, 2014

Long-term review

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Overview:

The NZD/USD pair has been showing a downward trend. Additionally, the price is still trapping between 0.8597 and 0.8563. So, it is of the cleverness to be neutral at this spot. Equally important, the support has set at the level of 0.8530. As it is known, buyers are biding at a lower price. Accordingly, the price of the NZD/USD pair will give a good sign to buy above 0.8530 with target of 0.8600. Also, if the trend will be able to break the 0.8600 price, hence, it might resume to 0.8640. However, if the trend fails to close above the resistance (0.8640), then the market will indicate a bearish opportunity below 0.8640. Thereupon, the level of 0.8640 is going to act as strong resistance. Therefore, it will a good sign to sell below this level on Friday 18, 2014. But the stop loss should be placed above 0.8660 at the price of 0.8386.

Intraday technical levels:

Date & Time:18/04/2014 10:30

Pair:NZD/USD

R3: 0.8708
R2: 0.8677
R1: 0.8623
PP: 0.8592
S1: 0.8538
S2: 0.8507
S3: 0.8453

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