NZD/USD Weekly Technical Report 13-17/5/2013
ecPulse
2013-05-13 07:33AM UTC
The NZD/USD has broken the uptrend's key support, and trading has settled below 0.8355 and 0.8385. Below these levels, the pair's downtrend could extend, and by further breaking 0.8280 a new bearish wave comes into effect.
- Trading range expected this week is between the key support at 0.8105 and the key resistance 0.8450.
- Short-term trend is upside targeting 0.8845 if 0.8130 remains intact.
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