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NZD/USD Technical Analysis for June 5, 2012

2012-06-05 10:57:20 (читать в оригинале)

• Strong Resistance : 0.7650.
• Strong Support: 0.7450.

Trading Recommendations:

According to previous events the price is expected to remain between 0.77 and 0.7930 levels.

• Buy-deals are recommended above 0.7450 with the first target seen at 0.758. The movement is likely to resume to the point 0.7625 and further to the point 0.78.
  
• The decending movement is likely to begin from the level 0.765 with 0.76 and 0.75 seen as targets.
  

Overview:

The NZD/USD pair is expected to continue the movement from the point 0.7476 (11% of Fibonacci retracement levels on the H1 chart). Thus, kiwi shows the signs of strength, following the breakdown of the highest level 0.7933. This fact can be considered as a good signal for BUY-deals above the point 11% of Fibonacci retracement levels on the H4 chart with the first targets 0.758 and 0.7625 / 0.765 (it will act as a strong resistance level and considered as appropriate for Take Profit orders). It is necessary to mention that this level will coincide with 100% of Fibonacci (0.7647). However, in case of the reverse movement and if the NZD/USD pair fails through the resistance level 0.765, the market will further decline to the 0.75 level, indicating a bearish mood.

 

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If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com .

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