Technical analysis of NZD/USD for January 11, 2019 888011000 110888 Overview: The NZD/USD pair breached resistance which had actually turned into strong assistance at the level of 0.6705 today. The level of 0.6705 coincides with a golden ratio( 61.8 %of Fibonacci), which is expected to act as significant assistance today. The RSI is thought about to be overbought, due to the fact that it is above 70. The RSI is still signifying that the trend is up as it is still strong above the moving average(100). Besides, note that the pivot point is seen at the point of 0.6882. This suggests that the set will most likely go up in the coming hours. Accordingly, the market is most likely to show signs of a bullish pattern. In other words, buy orders are suggested to be placed above 0.6800 with the first target at the level of 0.6882. From this point, the set is most likely to begin a rising movement to the point of 0.6882 and even more to the level of 0.6984. The level of 0.6984 will function as strong resistance. If there is a breakout at the assistance level of 0.6705 , this circumstance may become invalidated.The material has been provided by InstaForex Company- www.instaforex.com

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