Overview:
The NZD/USD pair will be continued straight from the level of 0.8636 in H4 chart. The level of 0.636 is coinciding with the ratio of 61.8% of Fibonacci retracement levels. Therefore, the Kiwi is showing signs of strenght following the break of the highest level of 0.8630, so it will be a good sign to buy above the level of 61.8% of Fibonacci retracement levels in H4 chart with the first target of 0.8690 and further to 0.8732. Also, it should be noted that the 0.8732 price will act as strong resistance for that it is going to be a good place to take profit. Moreover, note that this level of taking profit will coincide at 88.2% of Fibonacci. However, in case of reversal takes place and the NZD/USD breaks through the support level of 0.8590, the market will lead to further decline to 0.8550, in order to indicate a bearish market.Intraday technical levels:
Date: 17/06/2014
Projected high: 0.8805 Breakout (buy stop): 0.8750 Strong resistance (sell limit): 0.8720 Current pivot: 0.8681 Strong support (buy limit): 0.8642 Breakout (sell stop): 0.8617 Projected low: 0.8567