FX.co ★ Technical analysis of NZD/USD for November 6, 2014

Trading recommendations:

• The NZD/USD pair is still between the levels of 0.7786 and 0.7696. It should be noted that the market will continue its bearish sentiment from the level of 0.7804. Also, be aware that the level of 0.7804 will act as strong resistance today. Then, history will repeat itself again. So, the descending movement will probably be lower than the 0.7786/0.77804 levels with the first target at 0.7703, then the trend will form a double bottom at the price of 0.7668. In the short term, buy deals are recommended above 0.7668 with the target at the level of 0.7703 (correction).

Intraday technical levels:

Date and Time:6/11/2014 12:29

Pair:NZD/USD

• Projected high:0.8079
• Breakout (buy stop):0.8024
• Strong Resistance (sell limit):0.7994
• Current pivot:0.7762
• Strong support (buy limit):0.7529
• Breakout (sell stop):0.7504
• Projected low:0.7454