FX.co ★ NZD/USD: trading recommendations for May 14, 2013

Trading recommendations:

According to the previous events the price is expected to remain between 0.8283 and 0.8222 levels.

• Buy-deals are recommended above 0.8160 (strong support) with the first target seen at 0.8210 The movement is likely to resume to the point 0.8280 and further to the point 0.8310.
• The descending movement is likely to begin from the level 0.8310 (strong resistance) with 0.8203 and 0.8170 seen as targets.

Observations:

Range: 130 pips

Double bottom wil be formed at the level of 0.8160.

0.8310: strong resistance, then sellers asking for a high price.

0.8170: strong support, then buyers bidding at a lower price.

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