Technical analysis of NZD/USD for February 02, 2018 888011000 110888 Overview: Pivot point: 0.7305. The NZD/USD set is rising from the level of 0.7305 in the long term. It needs to be noted that the support is developed at the level of 0.7305 which represents the everyday pivot point on the H4 chart. The price is most likely to form a double bottom in the very same timespan. Accordingly, the NZD/USD pair is showing indications of strength following a breakout of the greatest level of 0.7305. So, buy above the level of 0.7305 with the very first target at 0.7364 in order to evaluate the daily resistance 1. Additionally, the RSI is still signaling that the trend is upward as it remains strong above the moving average(100 ). This recommends that the pair will most likely increase in the coming hours. The market will call for a strong bullish market towards the goal of 0.7437 if the trend is able to break the level of 0.7364. The level of 1.4250 is a great place to take profits today. In case a reversal takes location and the NZD/USD pair breaks through the level of 0.7305 (pivot point), an additional decline to 0.7202 can take place. It would show a bearish market.The producthas actually been supplied by InstaForex Business -www.instaforex.com

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