27.11.201514:36 Forex Analysis & Reviews: Technical analysis of NZD/USD for November 27, 2015

Long-term review

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Technical outlook and chart setups:

The NZD/USD pair retraced lower from highs of 0.6598 printed yesterday. Please note that the pair is finding support at a the Fibonacci 0.382 level of the previous swing between 0.6420 and 0.6600. Also, the interim trend-line support is seen to be passing close to the current price action around 0.6530. It is hence recommended to initiate long positions with risk below the level of 0.6500. Immediate support is seen at 0.6500 followed by 0.6400 and lower, while resistance is seen at 0.6598 (interim) and higher.

Trading recommendations:

Initiate long positions with stop at 0.6500, a target is at 0.6715.

Good luck!

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