03.11.201707:59 Forex Analysis & Reviews: Technical analysis of NZD/USD for November 03, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

We will retain our yesterday's bullish outlook of NZD/USD pair. The pair is consolidating above the key support at 0.6900, which should maintain the buying interest. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

To conclude, as long as 0.6900 is not broken, look for a further upside with targets at 0.6950 and 0.6970 in extension.

The black line is showing the pivot point. Currently, the price is above the pivot point, which indicates long positions. If it remains below the pivot point, it will indicate short positions. The red lines are showing the support levels and the green line is indicating the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.6950, 0.6970, and 0.6995

Support levels: 0.6880, 0.6850, and 0.6725

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.