NZD/USD: technical analysis for June 28, 2013

NZD/USD:

Resistance: 0.7960 (sell below this level).

Support: 0.7684 (buy above this level for retesting this level for a short period).

Double bottom will set at the level of 0.7684.

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 0.7865 and 0.7780 The descending movement will probably be lower than the 0.7960 level with the first targets at 0.7800 and 0.7750. Buy deals are recommended above 0.7684 with targets at 0.7855 and 0.7910.