FX:NZDUSD   New Zealand Dollar/U.S. Dollar
128 0 0
NZD/USD             is consolidating and forming a triangle chart pattern. The price has soared higher after the break of the inside bar candlestick 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 resistance level . 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 stochastic , Commodity Channel Index ( CCI ) and Relative Strength Index ( RSI ) are showing that the price is taking a breather before a possible breakout of the triangle chart pattern. The Ichimoku Cloud has turned from bearish to bullish and having the support of MACD and Parabolic SAR indicator, we could see the price continue to soar in todays             London session.
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