NZD/USD Technical Analysis (New Zealand Dollar / US Dollar)

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February 1, 2013 2:00 AM EST

Forextribe
Updated the:
01/31/2013
NZD/USD : New medium term bearish channel

Sentiment :

0,8393

0,8393

--- New analysis ---
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.
Full analysis

Analysis published by Bruno, the 01/31/2013 at 09h15 GMT+2

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