08.09.201707:11 Forex Analysis & Reviews: Technical analysis of NZD/USD for September 08, 2017

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.

NZD/USD is expected to continue the upside movement and looking forward to new highs. The pair recorded higher tops and higher bottoms since September 7, which confirmed a positive outlook. The 20-period moving average crossed above the 50-period one. The relative strength index calls for a new up leg.

To conclude, as long as 0.7265 holds on the downside, look for a further advance to 0.7340 and even to 0.7375 in extension.

The black line shows the pivot point. Currently, the price is above the pivot point, which indicates the bullish position. If it remains below the pivot point, it will indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7340, 0.7375, and 0.7415

Support levels: 0.7235, 0.7130, and 0.7085

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.