NZD/USD Weekly Technical Report 29/7-2/8/2013
ecPulse
2013-07-29 08:05AM UTC
The pair extended the bullish break out towards the main descending trend line shown on image, and the key resistance around 0.8150. Accordingly, we may see renewed downside pressure from this key resistance as it is also supported by the 200-days SMA. If price manages to settle above 0.8150, the upside move may extend to the 200-days SMA near 0.8125.
** 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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