Trading recommendations:
According to the previous events, the price has still been trapped between 0.7980 and 0.7935.
Long buying: Buy above 0.7825 with the first target of 0.7905, it might resume to 0.8000. Short selling: Outlook -1-: Swing trade at 0.8115 in order to sell with a traget of 0.7920. Outlook -2-: Below 0.7910 look for further downside with 0.7875 and 0.7830 targets.
PS: it should be noted that the market will be called for bearish market.
Intraday technical levels:
Date & Time: 6/06/2013 12:48
Pair: NZD/USD
Projected High :0.8142
Breakout (Buy Stop): 0.8087
Strong Resistance (Sell Limit): 0.8057
Current Pivot: 0.7942
Strong Support (Buy Limit): 0.7826
Breakout (Sell Stop): 0.7801
Projected Low: 0.7751
Warning:
Stop Loss should never exceed your maximum exposure amounts.
Risk to reward ratios are important and should be calculated.