Long-term review
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Overview:
- The NZD/USD pair is expected to find minor support at the level of 0.6512 (a daily pivot point) considering strong support at 0.6437, which represents the weekly support this week. So, the strong support will set at the spot of 0.6437 and 0.6400 today. Besides, you have to consider the level of 0.6606, which represents strong resistance and a double top at the same time. We expect a range about 105 pips today. The market will probably indicate a bullish opportunity at the level of 0.6510 and the weekly pivot point will act as minor support around the area of 0.6512. So, according to the previous events, the price is likely to move above the level of 0.6512. From the source previously mentioned, the area above 0.6512 looks for a further upside move with the first target at 0.6565 and continue towards 0.6606.
Intraday technical levels:
- R3: 0.6728
- R2: 0.6647
- R1: 0.6583
- PP: 0.6502
- S1: 0.6438
- S2: 0.6357
- S3: 0.6293
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