Technical analysis of NZD/USD for December 15, 2017

NZDUSDM30.png

All our upside targets which we predicted in yesterday’s analysis have been hit. Despite the recent pullback from 0.7030 (the high of December 13), the pair is still trading above the key support at 0.6975. Even though the continuation of consolidation cannot be ruled out, its extent should be limited.

Hence, as long as 0.6975 is not broken, we are cautious with up targets at 0.7050 and 0.7075 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: 0.7050, 0.7075, and 0.7105

Support levels: 0.6945, 0.6920, and 0.6885

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Technical analysis of NZD/USD for December 15, 2017

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*