FX.co ★ NZD/USD: technical analysis for August 15, 2013

NZD/USD:

Trading recommendations:

• According to the previous events, the price is still between the levels of 0.7995 and 0.7950.
• The descending movement will probably be lower than the 0.8150 level with the first target at 0.8060 and 0.8, then the trend will be going to test the weekly pivot point at the price of 0.7943.
• Buy deals are recommended above 0.7830 with targets at 0.8055 and 0.8125.
• Resistance: 0.8150 (sell below this level). Support: 0.7830 (buy above this level for retesting this level for a short period).
• Double bottom will set at the level of 0.7736. Double top will set at the level of 0.8056
• Trend: upward (the trend still calls for a bullish market). Range: 320 pips (weekly).

Intraday technical levels:

Date & Time: 15/08/2013 12:32

Pair: NZD/USD

R3: 0.8423

R2: 0.8237

R1: 0.8133

PP: 0.7947

S1: 0.7843

S2: 0.7657

S3: 0.7553