FX.co ★ NZD/USD: technical analysis for December 12, 2013

NZD/USD:

• Resistance: 0.8373 (sell below this level).
• Support: 0.8190 (buy above this level for retesting this level in the short term).
• A double bottom will be set at the level of 0.8183.
• Trend: upward (the trend still calls for the bullish market).
• Range: 80 pips (weekly).

Trading recommendations:

• According to the previous events, the price is still between the levels of 0.8314 and 0.8260.
• The descending movement will probably be lower than the 0.8370 level with the first targets at 0.8313 and 0.8195.
• Buy deals are recommended above 0.8190 with targets at 0.83 and 0.8366.