Technical analysis of NZD/USD for April 9, 2015 Market Analysis Review

Overview :

• According to previous events, the price of NZD/USD pair is still moving between 50% of Fibonacci retracement and 100% in the H1 chart. So, these ratios will coincide with the levels of 0.7510 and 0.7629 respectively. You should note that the double top is at 0.7629. The support has been already placed at 0.7510. Therefore, buy above the level of 0.7510 with the first target at 0.7577 in order to test the weekly pivot point, it might resume to 0.7601 today. In case the market is able to break the second target at 0.7601, the NZD/USD pair will continue to move toward the double top at 0.7629. It is going to be quite safe to set the stop loss at the level of 0.7470. Also, it should be noted that support 1 is set at 0.7582.

Intraday technical levels :

Date: 09/04/2015

Pair: NZD/USD

• R3: 0.7721


• R2: 0.7663


• R1: 0.7606


• PP: 0.7548


• S1: 0.7491


• S2: 0.7433


• S3: 0.7376

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