Weekly Pivot Point:

R3: 0.8673
R2: 0.8513
R1: 0.8401
PP: 0.8241
S1: 0.8129
S2: 0.7969
S3: 0.7857
 

Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.8103. Thus, kiwi shows the signs of strength, following the breakdown of the highest level 0.8100. This fact can be considered as a good signal for BUY deals above this strong support (0.8103) with the first targets at 0.8390 and 0.8500 (it will serve as a strong resistance level and is considered to be appropriate for Take Profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.8513). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8500, the market will show a further decline to the 0.8370 level indicating a bearish mood in order to retest the weekly pivot point at this level 0.8241.

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