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Technical analysis for the NZDUSD on 07.05.2015

The NZDUSD is testing 0.7500 support

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 80 pips Max. 0.7635

Min. 0.7400

nzdusd3

Having breached support at 0.7555, the New Zealand dollar continued its downtrend. The price is currently testing round level of 0.7500.

Trading is still carried out within the descending channel, which indicates strong downside potential.

Potential decline targets are situated at two strong supports – 0.7435, 0.7415.

Alternative scenario: to turn the downtrend up, bull have to break and hold above the resistance of 0.7555.

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

The NZDUSD is testing 0.7500 support

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 80 pips Max. 0.7635

Min. 0.7400

nzdusd3

Having breached support at 0.7555, the New Zealand dollar continued its downtrend. The price is currently testing round level of 0.7500.

Trading is still carried out within the descending channel, which indicates strong downside potential.

Potential decline targets are situated at two strong supports – 0.7435, 0.7415.

Alternative scenario: to turn the downtrend up, bull have to break and hold above the resistance of 0.7555.

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



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