FX.co ★ NZD/USD: technical analysis for July 2, 2013

NZD/USD:

Resistance: 0.7910 (sell below this level).

Support: 0.7682 (buy above this level for retesting this level for a short period).

Trend: downward (the trend still calls for a bearish market).

Range: 116 pips. A risk to reward ratio of 1:1.5 is recammended Risk of116pips must make a profit of 174,00

Trading recommendations:

• According to the previous events, the price is still between the levels of 0.7775 and 0.7810.
• The descending movement will probably be lower than the 0.7910 level with the first targets at 0.7682 and 0.7600.
• Buy deals are recommended above 0.7600 with targets at 0.7680 and 0.7867.

Intraday technical levels:

Date & Time:2/07/2013 12:53

Pair:NZD/USD

Projected High:0,8032

Breakout (Buy Stop):0,7977

Strong Resistance (Sell Limit):0,7947

Current Pivot:0,7773

Strong Support (Buy Limit):0,7599

Breakout (Sell Stop):0,7574

Projected Low:0,7524