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Technical analysis of NZD/USD for September 2, 2015

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Overview:

  • The first key level is expected at 1.3225 and the second key level will set at 1.3313 today. Also, notice that both levels represent the weekly support 1 and resistance 1 respectively. Equally important, the USD/CAD pair is still moving between 1.3225 and 1.3313. Additionally, it should be noted that the range will be at least about 88 pips today. Moreover, uptrend is very clear in today's chart. We expect the trend to call for the bullish market at the level of 1.3220. As a result, buying at 1.3225 with the first target at 1.3283 might resume to 1.3313 in order to test the weekly resistance 1. Also, it should be noted that the double bottom will set at 1.3352 in the H1 chart. On the other hand, your stop loss should be placed below the weekly pivot point, which sets at 1.3215, thus it will helpful to set it at the level of 1.3186 this week.


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