Technical analysis of NZD/USD for March 22, 2018

NZD/USD is expected to trade with bullish outlook. The pair is still showing upward momentum after a break-out from a resistance level at 0.7185 (now a key support). Currently, it is trading at levels above both the 20-period and 50-period moving averages while targeting the first upside target at 0.7260 (around the high of March 19). The relative strength index is well directed in the 70s, indicating strong upward momentum for the pair. Upon crossing 0.7260, the next upside target at 0.7280 would come into sight.

The black line shows the pivot point. Currently, the price is above the pivot point which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7260, 0.7305, and 0.7350.
Support levels: 0.7150, 0.7125, and 0.7100.

Analysis are provided by InstaForex