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

Forecast:

• According to the previous events, the price of the NZD/USD pair is still moving between 0.7766 and 0.7661.
• The level of 0.7761 represents the double top, and the weekly resistance 1 is set at the same level.
• Consequently, sell below the price of 0.7766 in the short term with the first target at 0.7660, it might resume to 0.7610 if the trend can break the support at 0.7660.

Notes:

• The double top will set at the level of 0.7761.
• The major support is going to set at 0.7609.
• The minor support has set at the price of 0.7660.
• The price hit the weekly pivot point and the support 1 this week.
• We expect a range of 69 pips today.

Intraday technical levels:

• Projected high: 1.7821
• Breakout (buy stop): 1.7771
• Strong resistance (sell limit): 0.77
• Current pivot: 0.7709
• Strong support (buy limit): 0.7609
• Breakout (sell stop): 0.7600
• Projected low: 0.7562