Overview :
- According to the previous events, the price of the NZD/USD pair has still been trapping between 0.8730 and 0.8623. The resistance has already set at the price of 0.8730. Consequently, we expect that the trend is going to call for a bearish market at the level of 0.8730 in H1 chart. Additionally, it should be noted that the 0.8730 is representing resistance 1 and the range today will be about 63 pips. Thereupon, sell at the price of 0.0.8730 with the first target of 0.8623 (the weekly pivot point), it might resume to 0.8550 in order to test the weekly support 1 on March 1, 2014. At the same time, the stop loss should never exceed your maximum exposure amounts. Accordingly, your stop loss should be placed above the 0.8766 level.
Note :
As it is known, if the trend is upward, then the strength of the currency pair will be defined as follows: NZD is in uptrend and USD is in downtrend.
- NZD/USD: 0.8678 (uptrend today)
- USD/CHF: 0.8834 (donwtrend today)
- So it should be noted the correlation:
- NZD/CHF = 0.8678 X 0.8834
- NZD/CHF = 0.7666 (sideways trend today)
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Weekly technical levels of NZD/USD for April 1, 2014 . Thanks for your support on Weekly technical levels of NZD/USD for April 1, 2014
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