Technical analysis of NZD/USD for April 17, 2018 888011000 110888 Overview: The pivot point is seen at the point of 0.7294. The NZD/USD pair is still continuing to move up-wards from the level of0.7294 and 0.7436. The level of 0.7294 represents the everyday pivot point in the H4 timespan. The set increased from the level of 0.7294 to a leading around 0.7375. Now, the rate is moving around the level of 0.7375. Also, it must be noted that the resistances levels are depends on 0.7375 and 0.7436, while day-to-day assistance 1 is seen at 0.7294(50 % Fibonacci retracement). According to the previous events, the NZD/USD pair is still moving between the levels of 0.7294 and 0.7436; so we expect a series of 142 pips. Furthermore, if the pattern is able to break out through the first resistance level at 0.7375, we need to see the set climbing up to the double top(0.7436) to test it. Purchase above the level of 0.7300 with the first target at 0.7375 in order to check the daily resistance 1 and even more to 0.7436. Also, it might be kept in mind that the level of 0.7436 is a great place to take revenue because it will form a double top. On the other hand, in case a reversal takes place and the NZD/USD set breaks through the assistance level of 0.7294 , an additional decline to 0.7151 can occur which would indicate a bearish market.The product has been supplied by InstaForex

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