The New Zealand Dollar looks set to test below the 0.76 figure against the US Dollar after narrowly overcoming chart support. A daily close below the 0.7556-80 area marked by the bottom of a falling channel and the 23.6% Fibonacci expansion exposes 38.2% level at 0.7401. Alternatively, a reversal back above the 14.6% Fib at 0.7691 opens the door for a test of channel top resistance at 0.7827. A very narrow break of support and the Hammer-like structure of the latest candle hint at elevated ...
EURUSD and USDCHF fail to confirm USDOLLAR moveUSDJPY at upper median line parallelAUDUSD follows through on last Friday’s reversal EUR/USD Weekly -BIG picture, monthly RSI has broken out of a triangle pattern. Sometimes, a pattern breakout in momentum (or OBV) precedes the breakout in price. The development’s implications ...
Talking Points NZD/USD Technical Strategy: Sidelines PreferredHanging Man hints at a reversal to support at 0.8700Awaiting close of candle on four hour chart to offer signal NZD/USD could be primed for a further pullback following the emergence of a Hanging Man pattern on the daily. A push below support at 0.8700 would be seen as a bearish signal and pave the way for a retreat to 0.8500. NZD/USD: Hanging Man Offers Bearish Signal Near Key Resistance ...