The NZD/USD currency pair demonstrated an active upward movement over the past week, testing the level of 0.6816, as the price jumped more than 190 points. As of this writing, it can be noticed how the quotation slowed down its movement. Within the psychological level of 0.7000, formed a stagnation in the form of a flat 0.6980 / 0.7025. It is possible to assume that the current break in 0.6980 / 0.7025 can be maintained, where traders should take a wait-and-see position and work on the fundamentals of breaking down boundaries.
Key Levels
Resistance zones: 0.7000: 0.7150.
Support zones: 0.6900; 0.6816; 0.6700; 0.6580.
Signals
- Purchases on the pair are recommended after a clear fixation of the price higher than 0.7035, with the prospect of moving to 0.7150.
- Selling the pair is recommended to be made at a price below 0.6975, with the prospect of moving to 0.6900.
Attention: Predictions are not a direct guide to action!
* The presented market analysis is informative and does not constitute a guide to the transaction.