All our upside targets which we predicted in our previous analysis have been hit. NZD/USD remains on the upside, backed by its rising 50-period moving average. The process of higher highs and lows remains intact on the prices, which should confirm a positive outlook. Besides, the relative strength index is bullish above its neutrality area at 50. Hence, as long as 0.7345 is not broken, it's likely advance to 0.7385 and 0.7400 in extension.
Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7385, 0.7400, and 0.7450
Support levels: 0.7320, 0.7300, and 0.7265.
The material has been provided by InstaForex Company - www.instaforex.com