FX.co ★ Technical analysis and trading recommendations for the NZDUSD currency pair as of December 20, 2017

The NZD/USD currency pair managed to break the level at 0.6980 / 0.7025, which was kept as the quotation from last week. Currently, the price is trailing around the level of 0.6965 and temporarily demonstrating a bullish interest. Probably, the bulls will try to roll back the quotation to the recently passed level of 0.6980, drawing on the result of the composition of the breakdown, where the next return of short positions is possible. In case of a coincidence of the forecast, another downward movement is expected to reach the level of 0.6940 / 0.6910.

Otherwise, if the bullish interest continues, we will return to the previous range range of 0.6980 / 0.7025

Key Levels

Resistance zones :; 0,7000 *; 0.7025 **; 0.7150.

Support zones: 0.6980 **; 0.6900; 0.6816; 0.6700.

Signals

- It is recommended to purchase the pair after a clear fixation of the price higher than 0.6980, with the prospect of moving towards 0.7025.

- There are two variations can be considered in selling the pair: firstly, the trend could move in the downward direction reaching the value of 0.6980. Secondly, a prospect of a moving towards 0.6940 / 0.6910 after fixing the price below 0.6950.

* Psychological level

** Periodic level

Draw your attention: Predictions are not a direct guide to action!