Overview:
NZD/USD will continue straight from 0.8088 in H4 chart, 00% of Fibonacci retracement levels, as well it is probably going to form a double bottom at the level of 0.8084; therefore, the Kiwi is showing signs of strenght following the break of the highest level of 0.8088. So it will be a good sign to buy above the level of 00% of Fibonacci retracement levels in H4 chart (the double bottom) with the first target of 0.8250 in order to retest the weekly pivot point and further 0.8400 (it will act as strong resistance, it is going to be a good place to take profit, it also should be noted that this level of taking profit will coincide at 100% of Fibonacci). However, in case a reversal takes place and NZD/USD breaks through the support level of 0.8084, the market will lead to further decline to 0.8012, in order to indicate the bearish market on 20/12/2013.
Notes:
Period: from Friday to next week. Support: 0.8088 Resistance: 0.8411 Range: 235 pips. Volatility on 20/12/2013: 368.82