Overview:
- The key level has been set at the level of 0.6565 (daily pivot point). Therefore, this level is going to act as a minor resistance today. As it is known, history will probably repeat itself at this level again. According to the previous events, the NZD/USD pair is still moving between 0.6565 and 0.6488. In the short term, sell at the price of 0.6565 with the first target at 0.6488, then it will continue moving towards 0.6391 in order to test the weekly support 2. On the other hand, if the trend fails to close below the pivot point at the level of 0.6391 on the H1 chart, buy above the 0.6391 price with a target at 0.6643. The level of 0.6643 is representing the weekly resistance 1. Notwithstanding, the market volatility has to be reviewed before investing, because the sight price may have already been reached and scenarios might have become invalidated.
Intraday technical levels:
Date: 10/11/2015
Pair: NZD/USD
- R3: 0.6607
- R2: 0.6586
- R1: 0.6559
- PP: 0.6538
- S1: 0.6511
- S2: 0.6490
- S3: 0.6463
