Technical analysis of NZD/USD for March 19, 2019 888011000 110888 Summary: The NZD/USD set breached resistance which had actually become strong support at the level of 0.6705. The set is still moving the daily pivot point of 0.6882. The level of 0.6705 accompanies a golden ratio, which is anticipated to act as significant support today. The RSI is considered to be overbought, since it is above 70. The RSI is still signifying that the trend is upward as it is still strong above the moving average (100). Besides, note that the pivot point is seen at 0.6882. This suggests that the pair will probably increase in the coming hours. Accordingly, the marketplace is most likely to reveal signs of a bullish trend. Simply put, buy orders are advised to be placed above 0.6800 with the first target at the level of 0.6882. From this point, the pair is most likely to start a rising motion to 0.6882 and further to 0.6984. The level of 0.6984 will act as strong resistance.On the other hand, if there is a breakout at the assistance level of 0.6705, this situation might become invalidated.The material has been offered by InstaForex Company

By | March 19, 2019

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