NZD/USD Weekly Technical Report 9-13/9/2013

The pair extended the upside move, settling well above the 50-days SMA and 0.7930 horizontal resistance. Accordingly, the bullish bias is likely to continue, targeting the top of the sideways range near 0.8100, then 0.8160 key resistance levels. Overall, 0.7855 should limit downside.

** Short term Trend (Trends that last from two weeks to two 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