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NZD/USD : New medium term bearish channel


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#1 ⇑ Haut ⇑ 31-01-2013 09:53:36

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NZD/USD : New medium term bearish channel

The pair NZD/USD seems to have difficulties to choose a direction these days. The price ranged from support at 0.83 and the resistance at 0.8393. However, these movements have allowed us to bring up a new downtrend channel whose upper limit is now close.

We therefore recommend to trade only short positions as far as 0.8393 is resistance. A return below 0.8350 would reinforce our bearish sentiment. The break of 0.83 will give a new sell signal and allow the price to test the next support at 0.8250.

In case of return above 0.8393, an output of the channel will be validated. A buy signal will be given.

NZD/USD 1h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-31012013-2.png

NZD/USD 4h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-31012013.png







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    NZD/USD : New medium term bearish channel



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