Overview:
- According to the previous events, the NZD/USD pair is still trading between the major levels of 0.6702 and 0.6825.
- Strong esistance will be found at the level of 0.6825 (the double top in the H1 chart) providing a clear signal for sell deals with the targets seen at 0.6730 and 0.6702.
- Stop-loss is to be placed above the double top at the level of 0.6863.
- Strong support is likely to be found at the level of 0.6702 providing a clear signal for buy deals with a target at 0.6820.
Notes:
- The level of 0.6729 represents the daily pivot point.
- The double top will be set at the level of 0.6825.
- We expect a range of 123 pips today. But it should be noted that the risk of 82 pips must make a profit of 123 pips.
- Volatility: 121.50.
- The value of 50% Fibonacci retracement levels is 0.6702 (for confirming for the bullish market).
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of NZD/USD for December 16, 2015 . Thanks for your support.
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