NZD/USD : Double top shaping?
--- Follow up analysis ---
At the end of the last week, the upper band of our medium term bearish channel (black lines) led to a new bearish wave on the pair NZD/USD who is currently testing a pullback on the resistance at 0.8134 (last lows of October). This last movement has occured into a short term bearish channel (purple lines in h1).
We continue to advise short positions as far as 0.82 is resistance (level of the upper band of the medium term channel). The breakout of 0.81 will give a new sell signal and should allow the price to reach the support at 0.8041.
In case of return above 0.82, we will be neutral between this level and 0.8221.
Analysis published by Bruno, the 10/24/2012 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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