NZDUSD technical analysis

NZDUSD - Daily

Market (21/55) is converging. Price (5 above 8) is flat. Stochastic is moving slightly up. Resistance levels at MM3/0.735, MR1/0.74 and MM4/0.755. Support levels at 0.72, MM2/0.715 and MS1/0.705. Price found resistance at MR1 and as per pivot point theory, the target is MS1.

NZDUSD - H4

Market (21 above 55) is flat. Price (8 above 5) is bearish. Stochastic is moving down. Resistance levels at WR1/MM3/0.735, WM4 and WR2/0.74. Support at WM3/0.73, MPP/WPP/0.725 and WS1/0.72. If price finds support at WM3/0.73, I will look to sell when price finds resistance at WR1/MM3/0.735. If that support level fails, I will wait for price to find support at MPP/WPP/0.725 and sell when price retrace and find resistance at WR1/MM3/0.735.

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