NZD/USD : Exit of the bearish channel and bullish gap
--- New analysis ---
A bullish has occured this night on the pair NZD/USD, following the annoucement of the New Zeland Central bank to keep its interest rate at the same level. The gap led to an exit of the medium term bearish channel (black lines) and the price is currently testing the resitance at 0.8221.
We are neutral on the pair between 0.8221 and 0.8187. We advise to wait an exit of this range to take position:
- Long if the breakout of 0.8221 is validated. We could then target a test of the resistance at 0.8266 and 0.83 in extension.
- Short in case of return below 0.8187 (level of the upper band of the channel). A return on 0.8134 and 0.81 in extension will be then expected.
Analysis published by Bruno, the 10/25/2012 at 08h50 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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