|NZD/USD : Back into its neutral zone|
|The New Zeland Dollar has failed to pursuit its bullish trend last week despite a return above 0.80. The pair NZD/USD is back into its neutral zone between the fibonacci retracement 50% at 0.7846 and the level 61.80% at 0.7938.|
We are neutral between these two levels and we advise to wait an exit of this range to take position:
Analysis published by Bruno, the 07/24/2012 at 09h00 GMT+2
Updated the 07/25 - The pair NZD/USD finaly continued its bearish movement and just got out of its neutral zone 0.7846/0.7938 from the bottom, giving us a sell signal. The breakout of 0.7846 is a strong sell signal, this level allowed the pair to rebound several times in June.
We now advise to trade only short positions as far as 0.79 is resistance. The first bearish objective is set at 0.7754 (level 38.20%). The breakout of this level will give a new sell signal.
In case of return above 0.79, we will be neutral between this level and 0.7938.
|Complete sheet of the pair NZD/USD - Previous NZD/USD Analysis|
Chart of the pair NZD/USD - Timeframe 4H
Chart of the pair NZD/USD - Timeframe 1H
NZD/USD Live Chart - Timeframe : 4h