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NZDUSD_Technical_Analysis_For_March_2015

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
NZDUSD             forecast for March 2015

The course of NZDUSD             runs quite mysterious, in which the most other majors pairs have been being fallen versus the buck strongly,whereat Kiwie seems to be not to stop to raise up or find for itself a very stable support zone ,namely at around 0.7631.

According to our point of view the Kiwie is yet in a downward trend at the moment but the band width of the downward channels are quite small and hence a rectangle pattern was built. That rectangle was but broken and pushed the Kiwie to the lowest level last time.

The Kiwie tries to trigger the red zone to enter back into the green zone( rectangle zone pattern) but failed up to now due to the strong pull back of the maim downward trend.
We still prefer for a bearish scenario and to short this pair for this period when the pair pulls back to the drawn resistant and support -projected trend lines .

In concrete: sell at following levels:

@0.75920
@0.76150
@0.76730

In case this pair would trigger the mentioned critical zone at 0.74888,then a level of 0.72520 is to consider to be touched again.

Trade well!

Makkaba team
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