FX.co ★ NZD/USD: technical analysis for December 17, 2013

NZD/USD:

• Resistance: 0.8395 (sell below this level).
• Support: 0.8103 (buy above this level for retesting this level for a short period).
• Trend: sideways trend in the frame time of H4.
• Range: 76 pips (daily) and 280 (weekly).
• Weekly pivot point: 0.8247

Trading recommendations:

• According to the previous events, the price is still around the weekly pivot point (0.8250).
• The descending movement will probably be lower than the 0.84 level with the first targets at 0.8255 and 0.8166.
• Buy deals are recommended above 0.81 with targets at 0.8250 and 0.8333 (78% Fibonacci retracement levels).

Intraday Technical Levels:

• Projected high: 0.8400
• Strong resistance (sell limit): 0.8390
• Current pivot: 0.8235
• Strong support (buy limit): 0.8100
• Projected low: 0.8095