empty
 
 
17.10.2018 10:41 AM
Technical analysis of NZD/USD for October 17, 2018

This image is no longer relevant

Overview:

The NZD/USD pair faces resistance at 0.6617, while strong resistance is seen at 0.6617. Support is found at 0.6543 and 0.6496 levels. Today, the NZD/USD pair continues to move downwards from 0.6617 level. The pair could fall from 0.6617 level to the first support around 0.6543. In consequence, if the NZD/USD pair will break support at 0.6543, this level will turn into resistance today. In the H4 time frame, the 0.6543 level is expected to act as minor resistance. Hence, we expect the NZD/USD pair to continue moving in the bearish trend from 0.6543 level towards the target at 0.6496. In the long term, if the pair succeeds in passing through 0.6543 level, the market will indicate the bearish opportunity below 0.6543 level in order to reach the second target at 0.6496. However, the 0.6496-0.6423 mark remains a significant support zone. Thus, the trend will probably rebound again from 0.6423 level as long as this level is not breached. in overall, we still prefer the bullish scenario below the area of 0.6423.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback