FX.co ★ NZD/USD: technical analysis for September 25, 2013

Trading recommendations:

NZD/USD:

According to the previous events, the price has still been trapped between 0.8225 and 0.8274.

Long buying:

Buy above 0.8162 with the first target at 0.8240, it might resume to 0.8290 (0.8296: 61.8 of Fibonacci retracement).

Short selling:

Outlook -1-: Swing trade at 0.8300/0.8295 in order to sell with a traget of 0.8150.

Outlook -2-: Below 0.8145 look for further descending movement with 0.8100 and 0.8060 as targets.

Notes:

• It should be noted that the market will turn to bearish sentiment from the level of 0.83 (psychological level).
• Range: 116 pips
• Volatility: 96.44, therefore the market indicates the higher volatility.

Strong levels:

0.84130, 0.83810, 0.8304

0.81810, 0.82260, 0.8262