NZD/USD : Unemployment rate reverses the trend
--- Follow up analysis ---
The pair NZD/USD has tested twice the support at 0.8134 but is failing to pursuit its bearish movement. An accumulation zone is taking place between this level and 0.82. An exit from the top of the range will lead to a pullback on the resistance at 0.82221 and a possible fill in of the bearish gap (who occured last week) towards 0.8240.
We continue to advise only short positions as far this level is resistance. The breakout of 0.8134 will give a new sell signal and should allow the price to reach the next support towards 0.8088.
In case of return below 0.8240, we will be neutral between this level and 0.8273.
Analysis published by Bruno, the 11/14/2012 at 08h45 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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