FX.co ★ NZD/USD: еechnical analysis for May 1, 2013

NZD/USD:
Resistance: 0.8600 (sell below this level).
Support: 0.8500 (buy above this level for retesting this level for a short period).

Trend: upward (the trend still calls for a bullish market).

Range: 120 pips (weekly).

Trading recommendations:

• According to the previous events, the price is still between the levels of 0.8530 and 0.8560.
• The descending movement will probably be lower than the 0.8600 level with the first targets at 0.8660 and 0.8510.
• Buy deals are recommended above 0.8505 with targets at 0.8555 and 0.8590.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.