NZD/USD Weekly Technical Report 22-26/7/2013

After testing the key resistance at 0.7970 on Friday, the pair reversed to 0.7860-support level with the start of the week, however rebounded again higher. Overall, the bearish trend is still intact, and price may find a good resistance at 0.7670 and the 50-days SMA, where only a break above this resistance area will threaten for a bullish reversal.

** 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