prtrading
Long

NZD/USD Channel Breakout Update

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
18 0 0
In a previous post, we were looking at a simple falling wedge and channel breakout.

Now it appears there might be two channels and a falling wedge in the formation. NZD/USD             is currently testing the first trend line after having touched the second trend line on Friday.

The previous comments are below:

"NZD/USD broke out of a falling wedge pattern and now appears to have broken out of the corresponding channel. The rate remains above the 100 SMA . These are bullish indicators for the NZD/USD             pair.

As long as these conditions hold, the NZD/USD             is bullish and we will remain long."



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