FX:NZDUSD New Zealand Dollar/U.S. Dollar
NZD/USD is consolidating and forming a triangle chart pattern. The price has soared higher after the break of the pattern that we discussed yesterday. It's price has filled the weekend gap as well and if the price breaka above this triangle chart pattern, we could possibly see price rise to the 0.8425 . The short term trend is up but the long term trend is down in this market and the price is facing obstacles as the 200 period moving average is above the current price. The , ( ) and ( ) are showing that the price is taking a breather before a possible breakout of the triangle chart pattern. The has turned from to and having the support of and indicator, we could see the price continue to soar in todays London session.