Currency pair NZD / USD has recently turned upward. This reversal occurred after the pair reached 0.7200. Upward correction from the support level 0.7200 stopped in the area of resistance, which is placed between the 0.7450 and 0.7400 resistance levels. This is clearly seen on the weekly chart of the pair NZD / USD, FBS analysts reported.

Technical Analysis

The next few days we can assume the following picture of currency pair NZD / USD. Fluctuations are probable as long as the bears and the bulls do not reveal their plans. If in the coming days, the bears will break through the range, it is possible to predict the movement towards the key level of 0.7100.

If the current week, the pair trades close near today’s levels, it forms a strong weekly reversal pattern of candlesticks. In this case, a bearish signal will increase the likelihood of further pair lowering in the direction of the previous purpose of selling at 0.7200. For sale, you can place a stop loss above 0.7450. The next target for sale will make the level of 0.7200, FBS experts said (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).