FX.co ★ Technical analysis and trading recommendations of the NZD/USD currency pair for August 29, 2017

As previously predicted, the currency pair reached the support level of 0.7200, where it felt support, it formed a fact as a rollback, but the "bullish" potential was small and we quickly saw the return of the "bears" to the market. Now the quotation, practicing the periodic value of 0.7260, jerked down but still have a small number of long positions in the stock. It is possible to assume that the current movement will have a time limit of 0.7260 / 0.7220 with a further offset to 0.7220 / 0.77190.

Key levels

Resistance zones: 0.7340; 0.7550; 0.7700

Support zones: 0.7200 (+/- 20p); 0.7050

Signals

- Buying a pair is recommended at a price above 0.7260, with a move to 0.7300 / 0.7325.

- Selling a pair can be considered in two variations: Work in specified ranges (0.7260 / 0.7220, 0.7220 / 0.7190), which is unnecessarily risky and unprofitable. The second variation, expectant, after a clear fixation of the price is below 0.7180, with the prospect of a move to 0.7150 / 0.7080.

Attention: Forecasts are not a direct guide to action!