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

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February 12, 2013 1:51 AM EST

Forextribe
Updated the:
02/11/2013
NZD/USD : trend reversal in progress?

Sentiment :

0,8394

0,8394

--- New analysis ---
The pair NZD/USD got out last Friday of our neutral zone 0.8350/0.8394 by the bottom, giving us a sell signal. After a new test of the support at 0.83, the price has rebounded towards 0.8394. Currently, the downward trend seems to take up. A new test of 0.83 is expected.

We recommend to trade only short positions as far as 0.8394 is resistance. The break of 0.83 will give a new sell signal, a strong one. The trend reversal would be confirmed. We will then target the next support at 0.8250. In the short term, this scenario is reinforced by the presence of a new bearish slant (blue line).

In case of return above 0.8394, we would advise to trade long positions. The trend reversal will be aborted.
Full analysis

Analysis published by Bruno, the 02/11/2013 at 08h55 GMT+2

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