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    NZD/USD: the price can break through of the range on 26.02.2016

    On the daily chart the pair NZD/USD has closely approached resistance level of 0.6775 (ЕМА200). If we consider that the current rise in the pair is just a short-term correction (against the last downward wave from the level 0.8820, which started in October 2014 reaching the level of уровню 0.6260 (lows of 2015)), the price can go up to 0.6860 (Fibonacci 23.6%).

    On the weekly and daily charts the indicators OsMA and Stochastic show the rise in the pair. However, on the 4-hour chart the indicators are reversing towards the short positions. In case of breakdown of the levels of 0.6685 (ЕМА144 and upper limit of the downward channel on the daily chart), 0.6625 (ЕМА50 on the daily chart and ЕМА200, ЕМА144 on 4-hour chart) the pair can go back to the downtrend on the daily chart with the lower limit at the level of 0.6200

    As an alternative scenario the pair can rise to 0.7240 (Fibonacci 38.2%), 0.7400 (ЕМА144 on the weekly chart), 0.7550 (ЕМА200 on the weekly chart and Fibonacci 50%), after breaking down of the level of 0.6860. The indicators on the daily and weekly charts show that this scenario is possible.

    However, it can happen only in case of the positive fundamental data, such as the rise in the price of oil and commodities, the increase in the global stock indices and recovery of the global economy, and abandon of the monetary policy tightening in the USA.

    Support levels: 0.6685, 0.6625, 0.6600, 0.6585, 0.6525, 0.6490, 0.6430, 0.6370, 0.6300 and 0.6230.
    Resistance levels: 0.6775 and 0.6860.

    Trading tips

    Sell Stop: 0.6720.
    Stop-Loss: 0.6770.
    Take-Profit: 0.6685, 0.6625, 0.6600, 0.6585, 0.6525, 0.6490, 0.6430, 0.6370, 0.6300 and 0.6230.

    Buy Stop: 0.6790.
    Stop-Loss: 0.6750.
    Take-Profit: 0.6860, 0.6900 and 0.7200.

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