Overview :
- The market is continuing to show signs of strength following the break at the price of 0.8580. Therefore, the NZD/USD pair resistance has broken and was turned to support since April 30, 2014, Moreover, the pair has already formed strong support at the level of 0.8580. So, the market indicates a bullish opportunity at the level of 0.8580 with the first target of 0.8640 and continues towards 0.8675.
- On the other hand, if the trend can break this level and close below 0.8580, then it will be a downside momentum rather convincing and the structure of the fall does not look corrective, for that the market will indicate the bearish opportunity at the price of 0.8580. As a result, it will be a good sign to sell at this level, but it should be borne in mind the stop loss should never exceed your maximum exposure amounts..
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of NZD/USD for May 16, 2014 . Thanks for your support on Technical analysis of NZD/USD for May 16, 2014
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