NZDUSD - Probes falling wedge resistance, a breakout is key

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD             0.6421 – Short-term Neutral – Probes falling wedge resistance, a breakout is key

NZDUSD             rallied from .6243 (September 7, 2015 low) to reach .6457 Friday (September 18, 2015 high), just shy of the .6466 pivot (August 31, 2015 high), probing 4-month falling wedge resistance. Improving technical indicators/potential positive divergence suggest there is scope for further upside. A decisive break through the latter is key to accelerating gains towards the .6707/.6738 lower highs (August 21/July 29, 2015). Clearance above there would confirm basing over .6196/.6243 (August 24/September 7, 2015 lows) and improve the outlook for .6793 (38.2% of the .7743/.6196 fall). However, if the .6466 pivot area manages to cap the recovery, back below .6311 (September 17, 2015) would weaken towards .6196/.6243 for a retest.

Intraday: bullish
Daily: neutral
Weekly: bearish
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out