NZD/USD Weekly Technical Report 2-6/9/2013

The price rebounds after failing to hold below 0.7735 support, as RSI indicated a strong positive divergence, and price is approaching the resistance of the minor falling wedge shown on chart. Accordingly, the bullish bias is expected to continue further this week. Break and stability below 0.7735 may will extend to 0.7680 key support, while taking 0.7680 will negate any bullish potential.

** Short term Trend (Trends that last from two weeks to two months)

** Chart is based on GMT+2 timing

Notes: 

*if price reaches more than 80% of target before triggering entry, signal is canceled and not valid anymore.

*Allow for +,- 5 points margin