NZD/USD Weekly Technical Report 18-22/2/2013
ecPulse
2013-02-18 07:03AM UTC
The pair dropped again and is trading below 0.8480 and 0.8450 resistance levels weakening positivity. Meanwhile, the pair stabilized above Linear Regression Indicators and this week’s negative opening was due to the price gap. Therefore, we might witness a new attempt to the upside by stabilizing above 0.8355 levels this week. Stochastic is showing a negative bias that requires stability again above 0.8480 to cancel it.
The trading range for this week might be among key support at 0.8310 and key resistance at 0.8600.
The general trend over short term basis is to the upside with steady daily closing above 0.8130 targeting 0.8845
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