NZD/USD : Double top shaping?
--- New analysis ---
The pair NZD/USD has made a double top on the resistance at 0.8350 last friday and then a strong bearish movement occured. The price is again out of its medium term bullish channel (purple lines) and the breakout of 0.8260 gave us a sell signal. A pullback on this level stay possible before the pursuit of the movement.
We now advise to trade only short positions as far as 0.8280 is resistance. The breakout of 0.8176 will give a strong sell signal and should open the way towards 0.81.
In case of return above 0.8280, we will be neutral between 0.8260 and 0.83.
Analysis published by Bruno, the 10/03/2012 at 09h00 GMT+2
Chart of the pair NZD/USD - Timeframe 4H
Chart of the pair NZD/USD - Timeframe 1H
|NZD/USD Live Chart - Timeframe : 4h|