FX.co ★ NZD/USD: Technical Analysis for November 15, 2012

Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.8125. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8125. This fact can be considered as a good signal for BUY deals above this strong support (0.8080) with the first targets at 0.8210 and 0.8260 (it will serve as a strong resistance level and is considered to be appropriate for take profit orders). It is necessary to mention that this level will coincide with the weekly resistance 1 (0.8260). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8260, the market will show a further decline to the level of 0.8191 (it is the weekly pivot point) indicating a bearish mood in order to retest the weekly support 1 at the level of 0.8074.

Weekly Pivot Points:
R3: 0.8446
R2: 0.8377
R1: 0.8260
PP: 0.8191
S1: 0.8074
S2: 0.8005
S3: 0.7888

Range: 80 pips.
Volatility: 80.32. Therefore, the market indicates the higher volatility.

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