FX.co ★ Technical analysis of NZD/USD for May 12, 2015

Overview:

• Due to the previous events, the price is still between the levels of 0.7327 and 0.7424. So, it is recommended to be careful when making deals in this area. The AUD/USD pair will probably move between the level of 0.7330 and below resistance at 0.7425; because the resistance has set at the level of 0.7424 and the support is seen at 0.7330. Also, it should be noted that the current price is at 0.7360 now. If the pair fails to close above the level of 0.7425, it will be a good opportunity to sell below 0.7425 with the first target at 0.7380., then it will be a good opportunity to sell below 0.7425 with the first target at 0.7380, then it will be continued bearish towards 0.7327 in order to test the double bottom in the H4 chart. Thus, we expect a range of 95 pips in the coming hours. At the same time, the stop loss should be always taken into account because it should never exceed your maximum exposure amounts. Consequently. The best location to set your stop loss should be placed above the resistance at the level of 0.7540.

Intraday technical levels:

Date:12/05/2015

• R3: 0.7520
• R2: 0.7482
• R1: 0.7409
• PP: 0.7371
• S1: 0.7298
• S2: 0.7260
• S3: 0.7187