FX.co ★ NZD/USD: technical analysis for June 28, 2013

NZD/USD:

Resistance: 0.7960 (sell below this level).

Support: 0.7684 (buy above this level for retesting this level for a short period).

Double bottom will set at the level of 0.7684.

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 0.7865 and 0.7780
• The descending movement will probably be lower than the 0.7960 level with the first targets at 0.7800 and 0.7750.
• Buy deals are recommended above 0.7684 with targets at 0.7855 and 0.7910.