Forecast in the short term:
According to previous events, the NZD/USD pair is trapped between 0.8522 and 0.8484. The resistance will be formed at the level of 0.8545 providing a clear signal for sell deals with the target seen at 0.8444. Stop-loss is to be placed above 0.8570. The support will be formed at the level of 0.8440 providing a clear signal for buy deals with the target seen at the 0.8530 level. Stop-loss is to be placed below 0.8415.Notes:
The weekly pivot point will set at the price of 0.8444. Range:120 pips. Hence, the risk of 120 pips must make a profit of 180 pips. Volatility: 151.78.Technical levels:
R3: 0.8725 R2: 0.8624 R1: 0.8545 PP: 0.8444 S1: 0.8365 S2: 0.8264 S3: 0.8185Warnings:
Stop loss should never exceed your maximum exposure amounts. As a rule, the market is highly volatile if the last day had a huge volatility.