• Strong Resistance : 0.7970.
• Strong Support: 0.7730.

Trading Recommendations:

According to previous events the price is expected to remain between the 0.7755 and 0.8010 levels.

• Buy-deals are recommended above 0.7730 with the first target seen at 0.7815. The movement is likely to resume to the point 0.79 and further to the point 0.7960.
  
• The decending movement is likely to begin from the level 0.797 with 0.7825 and 0.7740 seen as targets.
  

Overview:

The NZD/USD pair is expected to continue the movement from the point 0.7751 (23.6% of Fibonacci retracement levels on the H4 chart). Thus, kiwi shows the signs of strength, following the breakdown of the highest level 0.7751. This fact can be considered as a good signal for BUY-deals above the point 23.6 of Fibonacci retracement levels on the H4 chart with the first targets 0.7815 and 0.7960 (it will act as a strong resistance level and considered as appropriate for Take Profit orders). It is necessary to mention that this level will coincide with 88% of Fibonacci (0.7974). However, in case of the reverse movement and if the NZD/USD pair fails through the resistance level 0.7970 the market will further decline to the 0.7740 level, indicating a bearish mood.

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