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16.12.2015 12:37 PM
Technical analysis of NZD/USD for December 16, 2015
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Overview:

  • According to the previous events, the NZD/USD pair is still trading between the major levels of 0.6702 and 0.6825.
  • Strong esistance will be found at the level of 0.6825 (the double top in the H1 chart) providing a clear signal for sell deals with the targets seen at 0.6730 and 0.6702.
  • Stop-loss is to be placed above the double top at the level of 0.6863.
  • Strong support is likely to be found at the level of 0.6702 providing a clear signal for buy deals with a target at 0.6820.

Notes:

  • The level of 0.6729 represents the daily pivot point.
  • The double top will be set at the level of 0.6825.
  • We expect a range of 123 pips today. But it should be noted that the risk of 82 pips must make a profit of 123 pips.
  • Volatility: 121.50.
  • The value of 50% Fibonacci retracement levels is 0.6702 (for confirming for the bullish market).
Summary
Urgency
Analytic
Mourad El Keddani
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