FX.co ★ NZD/USD intraday technical analysis for December 10, 2013

Trading recommendations:

NZD/USD:

According to the previous events, the price has still been trapped between 0.8340 and 0.8290.

• Long buying:
• Buy above 0.82 with the first target of 0.8293, it might resume to 0.8366.
• Short selling:
• Outlook -1-: Swing trade at 0.8370 in order to sell with a traget of 0.8313.
• Outlook -2-: Below 0.8300 look for further downside with 0.8220 and 0.8190 as targets.

Note:

• It should be noted that the market will call for bearish market from the level of 0.8370.
• Range: 70 pips (daily).
• Volatility: 52.22; therefore, the market indicates the lower volatility. | Volatility Formula: Variation = Average * (Higher - Lower)
  

• R3: 0.8385
• R2: 0.8353
• R1: 0.8322
• PP: 0.8290
• S1: 0.8259
• S2: 0.8227
• S3: 0.8196