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Technical analysis for the NZDUSD on 10.11.2015

The NZDUSD: downtrend has halted at 0.6500 support

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 0.6640
Min. 0.6400

nzdusd

Short-term correction from 0.6500 support allowed bulls to correct the price to the closest resistance of 0.6570. The re-test of the level is followed by consolidation.

Current consolidation within the range of 0.6570 – 0.6500 will last to 23.05 – the RBNZ Governor speech.

If amid this news bears manage to break below 0.6500 support, the downtrend will continue. The main decline targets will be situated at 0.6455, 0.6400.

Alternative scenario:

Correction up will continue if price breaks strong resistance at 0.6570. In this case bulls will push the price higher to 0.6640.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

The NZDUSD: downtrend has halted at 0.6500 support

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 0.6640
Min. 0.6400

nzdusd

Short-term correction from 0.6500 support allowed bulls to correct the price to the closest resistance of 0.6570. The re-test of the level is followed by consolidation.

Current consolidation within the range of 0.6570 – 0.6500 will last to 23.05 – the RBNZ Governor speech.

If amid this news bears manage to break below 0.6500 support, the downtrend will continue. The main decline targets will be situated at 0.6455, 0.6400.

Alternative scenario:

Correction up will continue if price breaks strong resistance at 0.6570. In this case bulls will push the price higher to 0.6640.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



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