NZD/USD Weekly Technical Report 15-19/4/2013

NZD/USD rebounded downside last week from 88.6% correction at 0.8675 to below 78.6% correction at 0.8530. These technical signals are negative and supported by the negative crossover attempt the Stochastic is demonstrating at this moment. The pair, however, is still stable above Linear Regression Indicators, offering positive support but, we're still compelled to stand aside waiting for indications of a specific direction.

* Trading range expected this week is between the key support at 0.8385 and the key resistance 0.8740.

* Short-term trend is upside targeting 0.8845 if 0.8130 remains intact.