Overview:

• The NZD/USD pair did not show any signs of following the break of the highest level of 0.8340. Furthermore, the price opened below the ratio of 61.8% Fibonacci retracement levels (0.8334), as well as the resistance is set at the 0.8340 level on February 27, 2014. Therefore, it will be a good sign to sell below the level of 0.8340 with the first target of 0.8260 and resume to 0.8220, but it should be noted the double bottom is going to set at the price of 0.8242. However, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.8220, the market will lead to futher decline to 0.8180 today in order to indicate a correctional movement at this level. Meanwhile, the daily chart represents a strong support at 0.8180. Moreover, the EMA25 (red color) has to cross over the EAM50 (green color), it would be strong confirmation for the bullish market in the long term.