For Traders

Analytical Reviews

Technical analysis

30.03.201607:29 Forex Analysis & Reviews: Technical analysis of NZD/USD for March 30, 2016

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The upside movement is expected to prevail in the NZD/USD pair. The pair remains strongly on the upside, backed by its rising 20-period and 50-period moving averages. The relative strength index is still bullish above its neutrality area at 50. Even though a consolidation cannot be ruled out at the current stage, its extent should be very limited before further advance to 0.6885 and 0.6920 as targets. Stop loss is set at 0.6780 (the current 50-period moving average).

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.6885 and the second one at 0.6920. In the alternative scenario, short positions are recommended with the first target at 0.6725 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6695. The pivot point is at 0.6780.

Resistance levels: 0.6885, 0.6920, 0.6950

Support levels: 0.6725, 0.6695, 0.6660

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.