Forecast in the short term:

• According to the previous events, the NZD/USD pair is moved between the levels of 0.8622 and 0.8506.
• Resistance will be formed at the level of 0.8620 providing a clear signal for sell deals with the target seen at 0.8503.
• Stop-loss is to be placed above 0.8660.
• The major support will be formed at the level of 0.8405 providing a clear signal for buy deals with the target seen at the 0.8610 level.
• Stop-loss is to be placed below the double bottom at the price of 0.8373.

Notes:

• The daily pivot point will set at the price of 0.8570.
• We expect a range about 70 pips at least. Hence, the risk of 70 pips must make a profit of 105 pips.

Look out!

• Stop loss should never exceed your maximum exposure amounts.
• Volatility: 274.39. As a rule, the market is highly volatile if the last day had a huge volatility.