Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.9310. Thus, kiwi shows the signs of strength, following the breakdown of the highest level of 0.9310. This fact can be considered as a good signal for BUY deals above this strong support (0.9310) with the first targets at 0.9415 and 0.9450 (it will serve as a strong resistance level and is considered to be appropriate for Take Profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.9450). It should be noted that this point of 0.9450 is matched with 88% of the Fibonacci retracement level at H1 chart. However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.9450, the market will show a further decline to the 0.9360 level, indicating a bearish mood in order to retest the weekly pivot point at this level of 0.9310.

If you have any questions or requests, please feel free to contact me: [email protected].