NZD/USD Technical Analysis At Year-End: ranging between S3 Pivot and S2 Pivot
14 October 2015, 06:11
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NZD/USD is on long-term bearish market condition for ranging between 0.6102 support level and 0.6720 resistance level. The key levels for the pair are the folloiwng:
- 0.6102 support level and S3 Pivot at 0.6029 as the next bearish target, and
- 0.6720 resistance level and S2 Pivot at 0.6819 as the next target.
The most realistic scenario for this pair at year-end is the following: the pair will be ranging within S3 Pivot at 0.6029 and S2 Pivot at 0.6819.
| Instrument | S3 Pivot | S2 Pivot | S1 Pivot | Yearly PP | R1 Pivot |
|---|---|---|---|---|---|
| NZD/USD | 0.6029 | 0.6819 | 0.7256 |
0.8045 |
0.8482 |
If the pairs breaks 0.6720 resistance from below to above so the secondary bear market rally will be started with the next real target as S2 Pivot at 0.6819. If the price breaks 0.6102 support level from above to below so the bearish trend will be contining with S3 Pivot at 0.6029 as the next target with this case for example.
