Forecast in the long term :
- The key level of NZD/USD pair has set at the price of 0.8510 and this level is representing a strong support on May 7, 2014. Due to the previous events, the price of NZD/USD pair is still moving between the levels of 0.8780 and 0.8685. So, we expect a range of 120 pips in coming days. But, it should be noted that the risk of 80 pips must make a profit of 120 pips. Therefore, the support will be formed at the level of 0.8610 providing a clear signal for buy deals at 0.8610 (it should also be noticed that the level of 0.8682 is coinciding with the ratio of 38.2%) with the first target at 0.8680 and it will continue toward the double top at the price of 0.8777. However, stop loss is to be placed below 0.8450.
The material has been provided by InstaForex Company - www.instaforex.com
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