NZDUSD Technical Outlook (26-30 January,2015) | January 25, 2015

NZDUSD finally has broken its major support at 0.7610 area. After 4 months, this pair has been able to break its ranging zone. We can see bearish flag pattern and this pattern has been broken. So more downward movement is expected. Next support lies on between 0.7340-0.7370 area. Our recommendation for this pair is to wait for retest and take sell entry from every retracement. We can set our take profit on the support level.


In weekly chart, we can see biggest weekly candle which is showing it bearish power. Daily candle is also fully bearish. So this is no doubt that this pair is on the way of down rally. So we need to catch every retracement. Sell zone for this pair is 0.7600 area.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 0.7938

Resistance One (R1): 0.7692

Pivot Point: 0.7560

Support One (S1): 0.7314

Support Two (S2): 0.7182