Weekly Pivot Points:

R3: 0.8550
R2: 0.8453
R1: 0.8377
PP: 0.8280
S1: 0.8204
S2: 0.8107
S3: 0.8031

Overview:

The NZD/USD pair is expected to continue the movement from the point of 0.8200. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8200. This fact can be considered as a good signal for BUY deals above this strong support (0.8200) with the first targets at 0.8300 and 0.8380 (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 1 (0.8377). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8380, the market will show a further decline to the 0.8323 level indicating a bearish mood in order to retest the weekly pivot point at this level 0.8280.

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