NZD/USD : Double top shaping?
--- Follow up analysis ---
Despite the breakout of the support at 0.8176, the pair NZD/USD has failed to pursuit its bullish movement and is currently making a correction. The price got out of its short term bearish channel (purple lines) and seems to move towards a pullback on the resistance at 0.8260.
We continue to advise short positions as far as this level is resistance. On a medium term view, a bearish channel appears (black lines) and the upper band is going to be tested. A return below 0.8176 will comfort our bearish feeling and should allow the price to reach the support at 0.8083.
In case of return above 0.8260, a buy signal will be given.
Analysis published by Bruno, the 10/18/2012 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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