19.12.201706:23 Forex Analysis & Reviews: Technical analysis of NZD/USD for December 19, 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.

NZD/USD is under pressure below the key resistance at 0.7015, which limit the upside potential. The 20-period moving average is turning down. The relative strength index is bearish and calls for a further downside.

Therefore, as long as 0.7015 is not surpassed, look for a new test with targets at 0.6975 and 0.6960 in extension.

The black line shows the pivot point. Currently, the price is above the pivot point, which is a signal for 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: 0.7030, 0.7050, and 0.7070

Support levels: 0.6975, 0.6960, and 0.6920

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.