Forecast in the long term :
- According to previous events, the NZD/USD pair has still been trapped between the levels 0.7805 and 0.7714.
- Strong resistance will be formed at the level of 0.7805 providing a clear signal for sell deals with the targets seen at 0.7750 nad 0.77.
- Stop-loss is to be placed above 0.7853.
- In the short term, strong support will be formed at the level of 0.7666 providing a clear signal for buy deals with a small target seen at the 0.7730 level in order to retest support.
Notes :
- We expect a range about 60 pips today.
- The risk of 40 pips must make a profit of 60 pips.
- The level of 0.7800 will confirm the bearish market.
- Volatility is 122.81. As a rule, the market is highly volatile if the prior day had a huge volatility.
The material has been provided by InstaForex Company - www.instaforex.com
