NZD/USD : Double top shaping?
--- Follow up analysis ---
The pair NZD/USD has made at the end of the last week a pullback on 0.8260 before taking up its bearish movement towards the support at 0.8176. This level represents the neck line of our double top on 0.8350. Its breakout will give an important sell signal and should allow the price to reach the support at 0.8083.
We continue to advise short positions as far as 0.8260 is resistance. On the short term, the pair is moving into a bearish channel (black lines).
In case of return above 0.8260, we will then advise long positions.
Analysis published by Bruno, the 10/08/2012 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|
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