FX.co ★ NZD/USD: trading recommendations for May 9, 2013

The view for NZD/USD is intact.

Trading recommendations:

According to the previous events the price is expected to remain between 0.8480 and 0.8433 levels.

• Buy-deals are recommended above 0.8380 (strong support) with the first target seen at 0.8420 The movement is likely to resume to the point 0.8488 and further to the point 0.8525.
• The descending movement is likely to begin from the level 0.8530 (strong resistance) with 0.8470 and 0.8390 seen as targets.

Observations:

Range: 101pips

0.8541: strong resistance, then sellers asking for a high price.

0.8380: strong support, then buyers bidding at a lower price.

Intraday technical levels:

Date & Time9/05/2013 13:57

R3: 0,8601

R2: 0,8541

R1: 0,8500

PP: 0,8440

S1: 0,8399

S2: 0,8339

S3: 0,8298

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