FX.co ★ NZD/USD: technical analysis for August 30, 2013

NZD/USD:

Trading recommendations:

• According to the previous events, the price is still between the levels of 0.7735 and 0.7783.
• The descending movement will probably be lower than the 0.7853 level with the first target at 0.7735 and 0.7686, then the trend will form a double bottom at the price of 0.7686.
• Buy deals are recommended above 0.7686 with targets at 0.7725 and 0.7800 for next month.
• Resistance: 0.7860 (sell below this level).
• Support: 0.7686 (buy above this level for retesting this level for a long period).
• Double bottom will set at the level of 0.7686.
• Double top will set at the level of 0.7870.
• Trend: downward (the trend still calls for a bearish market on August 30, 2013).
• Range: 102 pips (daily).