NZD/USD: еechnical analysis for May 1, 2013

NZD/USD:
Resistance: 0.8600 (sell below this level).
Support: 0.8500 (buy above this level for retesting this level for a short period).

Trend: upward (the trend still calls for a bullish market).

Range: 120 pips (weekly).

Trading recommendations:

According to the previous events, the price is still between the levels of 0.8530 and 0.8560. The descending movement will probably be lower than the 0.8600 level with the first targets at 0.8660 and 0.8510. Buy deals are recommended above 0.8505 with targets at 0.8555 and 0.8590.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.