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NZD/USD : Towards new annual highs


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#1 ⇑ Haut ⇑ 01-02-2013 10:14:59

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NZD/USD : Towards new annual highs

The pair NZD/USD got out of its new medium-term downtrend from the top. The break of the resistance at 0.8393 gave us a buy signal. The price is currently moving towards the resistance at 0.8461 which includes all the annual highs. The pair should continue its upward trend below the lower band of the former medium term bullish channel (purple lines).

We recommend to trade only long positions as far as 0.8380 is support. This level corresponds to the upper limit of the old channel. The break of 0.8461 will give a new buy signal and the price should then reach the psychological resistance at 0.85.

In case of return above 0.8380, we will be neutral between this level and the major support at 0.8350.

NZD/USD 1h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-01022013-2.png

NZD/USD 4h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-01022013.png







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#2 ⇑ Haut ⇑ 07-02-2013 08:54:17

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Re: NZD/USD : Towards new annual highs

After a long test of the major resistance at 0.8461 for several days, a correction has finally occured. The price is back in the neutral zone between the major support at 0.8350 and resistance at 0.8394. The pair is also making a pullback on the upper band of the former downtrend channel (black lines).

We advise to wait an exit of the range 0.8350/0.8394 to take position:

- Long in case of return above 0.8394. A new test of the resistance at 0.8461 would be expected for a fourth test (generally a sign of breakout). In extension, 0.85 would be in line of sight.

- Short if 0.8350 is broken. A return on 0.83 should then intervene at first and then in extension,0.8250 could be the next objective.

NZD/USD 1h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-07022013-2.png

NZD/USD 4h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-07022013.png




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    NZD/USD : Towards new annual highs



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