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30.11.201517:09 Forex Analysis & Reviews: Technical analysis of NZD/USD for November 30, 2015

Long-term review

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Technical outlook and chart setups:

The NZD/USD pair picked up from the expected price levels around 0.6530 on Friday. Today the pair has made an intraday high at the 0.6580 levels and is pulling back again before the rally could resume. Please note that the bullish bounce has come at a trend-line support and also the Fibonacci 0.786 support of the rally between 0.6500 and 0.6600 levels earlier. It is hence recommended to remain long with risk around the 0.6500 levels for now. Immediate support is seen at the 0.6510 levels (interim), while resistance is at 0.6600. Please note that a push above the 0.6600 levels would accelerate towards the 0.6715 levels.

Trading recommendations:

Remain long, stop is at 0.6500, target is 0.6700

Good luck!

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