Long-term review
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Overview:
- According to the previous events, the NZD/USD pair is still trading between the major levels of 0.6702 and 0.6825.
- Strong esistance will be found at the level of 0.6825 (the double top in the H1 chart) providing a clear signal for sell deals with the targets seen at 0.6730 and 0.6702.
- Stop-loss is to be placed above the double top at the level of 0.6863.
- Strong support is likely to be found at the level of 0.6702 providing a clear signal for buy deals with a target at 0.6820.
Notes:
- The level of 0.6729 represents the daily pivot point.
- The double top will be set at the level of 0.6825.
- We expect a range of 123 pips today. But it should be noted that the risk of 82 pips must make a profit of 123 pips.
- Volatility: 121.50.
- The value of 50% Fibonacci retracement levels is 0.6702 (for confirming for the bullish market).
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