Technical analysis of NZD/USD for November 24, 2016 888011000 110888 NZD/USD is Under pressure. The pair is trading listed below its decreasing 20-period and 50-period moving averages, which play resistance roles and keep the disadvantage predisposition. The relative strength index is listed below its neutrality level at 50 and lacks upward momentum. Additionally, 0.7040 is playing an essential resistance function, which need to limit the upside capacity. As long as 0.7040 hangs on the benefit, try to find a further drop towards 0.6950. A break below this level would call for a further decline towards 0.6920. The pair is trading listed below its pivot point. It is most likely to trade in a lower variety as long as it stays below the pivot point. Short positions are recommended with the very first target at 0.6950. A break below this target will move the set further downwards to 0.6920. The pivot point stands at 0.7040. In case the rate moves in the opposite instructions and recovers from the assistance level, it will move above itspivot point. It is likely to move even more to the benefit. Inning accordance with that scenario, long positions are suggested with the first target at 0.7090 and the 2nd one at 0.7110. Resistance levels: 0.7090 , 0.7110, 0.7140 Assistance levels: 0.6850, 0.6920, 0.6885 The material has been supplied by InstaForex Company- www.instaforex.com

By | November 24, 2016

NZD/USD is Under pressure. The pair is trading below its decreasing 50-period and 20-period moving averages, which play resistance roles and keep the downside predisposition. The relative strength index is listed below its neutrality level at 50 and does not have upward momentum. Additionally, 0.7040 is playing a crucial resistance role, which should limit the upside capacity. As long as 0.7040 holds on the upside, try to find a further drop towards 0.6950. A break listed below this level would call for a further decrease toward 0.6920.

The set is trading below its pivot point. It is likely to trade in a lower range as long as it stays listed below the pivot point. Short positions are suggested with the first target at 0.6950. A break listed below this target will move the set further downwards to 0.6920. The pivot point stands at 0.7040. In case the rate relocations in the opposite direction and recuperates from the assistance level, it will move above its pivot point. It is likely to move even more to the upside. Inning accordance with that circumstance, long positions are advised with the very first target at 0.7090 and the second one at 0.7110.

Resistance levels: 0.7090, 0.7110, 0.7140

Assistance levels: 0.6850, 0.6920, 0.6885

The material has been offered by InstaForex Company –
www.instaforex.com

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