Forex Technical analysis of NZD/USD for December 10, 2014
Consistently with the prior events, the price of the NZD/USD pair is silently moving between 0.7766 and 0.7661 levels. The level of 0.7761 signifies the double top, and the weekly resistance 1 is stays at the same level. Therefore, sell below the price of 0.7766 in the short term with the primary target at 0.7660, it may possibly continue to 0.7610 if the trend can break the support level at 0.7660.
The double top will happen at the level of 0.7761. The main support is going to take place at 0.7609. The insignificant support has set at the price of 0.7660. The price knock the weekly the support 1 and the pivot point this week. We be expecting a range of 69 pips today.
Intraday technical levels:
Projected high: 1.7821
Breakout (buy stop): 1.7771
Strong resistance (sell limit): 0.77
Current pivot: 0.7709
Strong support (buy limit): 0.7609
Breakout (sell stop): 0.7600
Projected low: 0.7562