Technical analysis of NZD/USD for March 23, 2015 Market Analysis Review

Overview :

• The support of the NZD/USD pair is going to set at the level of 0.7529 on March 23, 2015. Also, it should be noticed that the level of 0.7529 is representing the key level of the NZD/USD pair this week, because it acts as a psychological price. Moreover, the market is still calling in uptrend from the level of 0.7529 since last week, for the reason that the resistance became the strong support. Consequently, the ascending movement will probably be higher than the level of 0.7530 with the targets at 0.7620 and 0.7737 in the coming days. The level of 0.7737 is the highest price. Accordingly, the pair is going to form the first double top in the H4 chart. However, the resistance is likely to be formed at the level of 0.7737. Furthermore, it will be very profitable to sell below this level for retesting this level in the short period. Therefore, sell deals are recommended below the 0.7737 level with targets at 0.7650 and 0.7520.

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