Forecast in the short term:
According to the previous events, the NZD/USD pair is moved between the levels of 0.8622 and 0.8506. Resistance will be formed at the level of 0.8620 providing a clear signal for sell deals with the target seen at 0.8503. Stop-loss is to be placed above 0.8660. The major support will be formed at the level of 0.8405 providing a clear signal for buy deals with the target seen at the 0.8610 level. Stop-loss is to be placed below the double bottom at the price of 0.8373.Notes:
The daily pivot point will set at the price of 0.8570. We expect a range about 70 pips at least. Hence, the risk of 70 pips must make a profit of 105 pips.Look out!
Stop loss should never exceed your maximum exposure amounts. Volatility: 274.39. As a rule, the market is highly volatile if the last day had a huge volatility.