The NZD/USD pair is expected to continue the movement from the point of 0.8140. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8140.
This fact can be considered as a good signal for Buy deals above this strong support (0.8140) with the first targets at 0.8222, 0.8303, and 0.8396 (the level of 0.8400 will serve as a strong resistance and is considered to be appropriate for take profit orders). It should be mentioned that this level will coincide with the weekly resistance 1 (0.8396). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8396, the market will show a further decline to the level of 0.8309 (the weekly pivot point) indicating bearish mood in order to retest the weekly support 1 at the level of 0.8146.
This fact can be considered as a good signal for Buy deals above this strong support (0.8140) with the first targets at 0.8222, 0.8303, and 0.8396 (the level of 0.8400 will serve as a strong resistance and is considered to be appropriate for take profit orders). It should be mentioned that this level will coincide with the weekly resistance 1 (0.8396). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8396, the market will show a further decline to the level of 0.8309 (the weekly pivot point) indicating bearish mood in order to retest the weekly support 1 at the level of 0.8146.
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