|NZD/USD : Into a medium term bullish channel|
Last lows of the pair NZD/USD during August allow us to draw a bullish channel in h4 (purple lines). The price is currently close of the lower band and so the bullish potential is high.
In h1, the scenario of a pursuit of the bullish movement is reinforced by the recent breakout of a baerish slant (black lineà. We advise to trade only long positions as far as 0.8050 is support. The breakout of 0.8162 will give a new buy signal and will open the way towards 0.8250.
In case of return below 0.8050, we will be neutral between this level and 0.80.
Analysis published by Bruno, the 08/21/2012 at 09h30 GMT+2
Updated the 08/23 - Despite a pullback last tuesday on its forme bearish slant in h1 (black line), the pair NZD/USD found support on the lower band of its bullish channel (purple lines). A new bullish wave occured and the price just validated the breakout of the resistance at 0.8162 (new buy signal). We could note that a bullish gap has appeared during the movement and that show the strengh of this movement.
We stay bullish with an unchanged target at 0.8250. The breakout of 0.82 will open the towards this level. We continue to advise long positons as far as 0.8120 is support. In case of return below this level, we will be neutral between 0.8118 and 0.8079.
|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|