Support & Resistance Levels For NZD/USD – Are You Using Them?

Posted Thursday, May 25, 2017 by
Skerdian Meta • 2 min read

In the last several trading days we opened a few forex signals on the NZD/USD. We used to be bearish on this pair until a couple of weeks ago, but in the last two weeks the trend has changed in all USD pairs, so we´ve changed our opinion as well, at least for the time being, until the trend changes again, what else can we do?

Yesterday morning we had a winning forex signal here and opened another one earlier today since the retrace down seems to have run its course on the hourly forex chart. So, I think it´s time to have a look at the support & resistance levels for this forex pair.



Resistance                                                                   Support

1 – 0.7050-60 (strong – he high so far)                            1 – 0.7020-25 (strong – 50 SMA on H1 chart)

2 – 0.7070 (mild – 200 SMA on the daily chart)               2 – 0.6990-0.70 (medium – yesterday´s low)

3 – 0.71 (strong – 50 SMA on the weekly chart)               3 – 0.6980 (strong – 200 SMA on H4)

                                                                                    4 – 0.6950 (strong – resistance for the past 3 weeks)       

These are the support and resistance levels for the NZD/USD, which we must use when trading this pair in the coming days. We used the first support area (0.7020-25) for our forex signal that we opened today. Let´s hope the trend remains intact and we end up with yet another winning forex signal.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Durable goods orders showed a 0.2% increase in August, against -0.5% expected and July's -5.2% decline, which was revised to -5.6%
2 days ago
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments