NZDUSD Technical Analysis (19-23 January,2015) | January 18, 2015

NZDUSD is still on ranging zone. It can not able to break this ranging zone. We need to wait for breakout of this ranging zone for new trend. If it break on upside, we will get reversal signal and bullish rally can be started. If this pair able to break the support, then bearish rally will extend upto 0.7400 area. So our recommendation for this pair is to wait until the breakout of this pair.


In weekly chart, price touched 21 EMA and rejected from that. Below this EMA, this pair will remain bearish. We can not get any clear direction from the weekly candle. Before breakout we can not get any trend direction.


In daily chart, this pair is following a downward trend line. It has rejected from the trend line. This pair is below 100 EMA on daily chart. So within this ranging zone, this pair still on little down pressure.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 0.7989

Resistance One (R1): 0.7889

Pivot Point: 0.7789

Support One (S1): 0.7689

Support Two (S2): 0.7589