InstaForex - Analytics


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    Technical analysis of NZD/USD for July 24, 2015


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    Technical comment:

    The daily chart is negative-biased as the MACD and slow stochastic indicators are bearish; five and 15-day moving averages are declining.

    Trading recommendations:

    The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 0.6535. A break of that target will move the pair further downwards to 0.65. The pivot point stands at 0.6615. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.6655 and the second target at 0.6695.

    Resistance levels: 0.6655 0.6695 0.6745

    Support levels: 0.6535 0.65 0.6435

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