# NZD/USD Range Behavior (November 21, 2013)

Source: https://www.tradersway.com/resources/market-info/nzd-usd-range-behavior-november-21-2013/
Language: en
Updated: 2013-11-21

After testing .8400 resistance in the past few weeks, NZD/USD looks ready to head back to the bottom of its range, as seen on the 1-hour time frame. There’s support at the .8200 major psychological level, which has held in the past few weeks as well.



Stochastic has reached the overbought mark, which hints at a potential bounce sooner or later. A rally from the bottom of the range could last at least until the middle around .8300 while stronger buying pressure could push the pair up to the top at .8400.



![NZD/USD Range Behavior (November 21, 2013)]



Going long at .8200 with a 50-pip stop or a stop below that previous spike could yield a good return on risk of 4:1. Moving the stop to entry once price tests .8300 is a good way to protect profits and manage risk.



*By Kate Curtis from Trader’s Way*