NZD/USD Weekly Technical Report 5-9/8/2013
ecPulse
2013-08-05 08:38AM UTC
The rally on Friday was short-lived, as price resumed the bearish wave, and AUDUSD extended the downside move. 0.8870-support level managed to halt further decline, where we may see an minor upside bounce supported by the slight bullish divergence on RSI. However, the overall bearish trend remains intact, and the bearish scenario remains favored for the week.
** Short term ( Less than three 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
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