|NZD/USD : Towards a full retracement of the last bearish movement|
|A bearish rally occured last week on the pair NZD/USD who toop up its forward walk. Since several days, an accumulation zone above the support at 0.8078 is taking place. The breakout of 0.8150 will open the way towards a full retracement of the last bearish movement at 0.8235 (level 200%).|
This scenario is reinforced by a bullish channel in h1 (purple lines). We stay bullish as far as 0.8050 is support. In case of return below this level, we will be neutral between 0.8050 and 0.7938 (level 61.80%).
Analysis published by Bruno, the 08/03/2012 at 09h00 GMT+2
Updated the 08/07 - Our bullish scenario seems to happen and the NZD/USD is close to the level 100% at 0.8235 for a full retracement of the last bearish movement. The breakout of this level will open the way towards 0.83. We stay bullish as far as 0.8128 is support. In h1, the price is still moving into a bullish channel. An exit of the channel will not put inevitably the bullish trend in danger but a correction will be expected. In case of return below 0.8128, we will be neutral between this level and 0.8077.
|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|