NZD/USD Weekly Technical Report 22-26/4/2013

NZD/USD's stability above 0.8415 is a positive catalyst, as it signals the completion of the bearish correction, and as a result, we believe we are ahead of a new bullish attempt during this week. Our outlook will remain valid as long as the pair holds above 0.8415--50% correction. Noting that if the pair breaks 0.8355 and resides below it, our expectations will be foiled.

- Trading range expected this week is between the key support at 0.8275 and the key resistance 0.8620.

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