FX.co ★ Technical analysis of NZD/USD for June 10, 2014

Trading recommendations:

• The NZD/USD pair on June 10, 2014. The resistance is going to set at the level of 0.8580. Moreover, double top has been already placed at 0.8582. Consequently, the descending movement will probably be lower than the 0.8580 level with the targets at 0.8530 and 0.8440. On the contrary, the support has already set at 0.8440. Furthermore, it should be noted that it will very profitable to buy above this level for retesting this price in a short period. Therefore, buy deals are recommended above the 0.8440 level with targets at 0.8514 (61.8% of Fibonacci retracement) and 0.8544 to reach the minor resistance.

• Even so, you have to set your stop loss. Thus, the best location for placing it should be at the 0.8404 level which represents the double bottom in H1 and H4 charts.