FX.co ★ Technical analysis of NZD/USD for February 25, 2014

Trading recommendations:

• According to the previous events, the NZD/USD pair has still been moving between 0.8355 and 0.8300. It should be noted that the key level is set at the level of 0.8370. Equally important, the double top will be formed at the 0.8391 level. As it is know, history will probably repeat itself at this level again. Therefore, it will a good sign to sell below 0.8370 or 0.8390 with the first target of 0.8330. It will call for downtrend in order to continue its bearish movement towards 0.8260. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above 0.8390 at the price of 0.8420.