Forex - NZD/ USD Technical Analysis (New Zealand Dollar / US Dollar)

By Roger Baettig | May 18 2012 5:31 AM

Updated the: 05/18/2012
NZD/USD Technical Analysis comments :

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Sentiment : 0.78 0.77
The pair NZD/USD has continued its bearish movement and the breakouts of 0.7668 and 0.76 both gave us a new sell signal. The pair is now moving below the lower band of its bearish channel (purple lines). The opening gap is still not filled in. All indiactors are bullish. Currently, the pair is testing the support at 0.7550. We continue to advise short positions as far as 0.77 is resistance. The breakout of 0.7550 will give a new sell signal and open the way towards 0.75 and 0.7450 In case of return above 0.77, we will be neutral between this level and 0.78. The breakout of 0.78 will give a buy signal.