FX.co ★ NZD/USD: technical analysis for October 23, 2013

NZD/USD:

History will repeat again

Trading recommendations:

• According to the previous events, the price is still between the levels of 0.8435 and 0.8377. The descending movement will probably be lower than the 0.8560 level with the first target at 0.8450 and 0.8380, then the trend will form a double bottom at the price of 0.8300 (Daily chart). Buy deals are recommended above 0.8300 with targets at 0.8345 and 0.86 for the next week in the long term.
• Resistance: 0.8550 (sell below this level). Support: 0.83 (buy above this level for retesting this level for a long period).
• Double bottom will set at the level of 0.83 (short term). Double top will set at the level of 0.8675 (long term).
• The trend: upward (the trend still calls for a bullish market on October 23 , 2013). Range: 208 pips.

Intraday technical levels: (long term)

Date & Time: 23/10/2013 13:24

Pair: NZD/USD

• Projected High: 0.8749
• Breakout (Buy Stop): 0.8694
• Strong Resistance (Sell Limit): 0.8664
• Current Pivot: 0.8444
• Strong Support (Buy Limit): 0.8223
• Breakout (Sell Stop): 0.8198
• Projected Low: 0.8148