NZDUSD Weekly Technical Analysis (9-13 March, 2015) | March 8, 2015

NZDUSD fell from resistance level at 0.7600. In H4 chart it has made double top. After this double top it started falling. On daily chart, we can see big bearish candle which is known as bearish engulfing. So that big candle indicates its bearish power. It has continued its bearish rally. From the double top, it fell more than 250 pips. It has broken and retest 100 EMA on h4 chart. So we can expect more down fall on nzdusd. 0.7430 is good sell zone for this pair. We can take sell entry from that level. Next target will be 0.7200 area.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 0.7694

Resistance One (R1): 0.7526

Pivot Point: 0.7441

Support One (S1): 0.7273

Support Two (S2): 0.7188