fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for NZD Mon Jun 10, 2013 11:53 am | |
| Technical Analysis for NZD The NZD/USD has broken and stabilized below 61.8% correction, according to Fibonacci retracements. It could be a reason for a downtrend all the way to 78.6% correction at around 0.7715, perhaps even farther to 0.7590 later on. Trading below 0.7925 nurtures the negative outlook throughout the week. Support: 0.7825, 0.7765, 0.7715, 0.7665, 0.7610 Resistance: 0.7860, 0.7925, 0.7940, 0.7980, 0.8000 Recommendation Based on the analysis above, we recommend selling the pair below 0.7860, targeting 0.7825, 0.7715 and 0.7610 and stop-loss with 4-hour closing above 0.7980. | |
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