Technician
Long

NZDUSD: Now at Juncture!

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
1548 23 23
The NZDUSD             was under very strong pressures, and reached all of my downside targets which i mentioned in my earlier forecaste for the pair, see related link below.

Watch-out, the price is a key technical juncture:
-Retested the long term 200-days SMA
-Retested the main rising trend line for the overall bullish trend
-Formed a bullish hammer at this key support area
-0.8415 is a key horizontal support

The odds are in favor of a bullish rebound, and therefore I expecting a move higher, targeting 0.8530 as an initial target. Alternatively, if we break lower below 0.8415 i would reverse my view, and look for more strong bearish bias.

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My best regards,
Technician
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thanks for analysis I love it
+1 Reply
Technician TOP manijeh.kazemi.33
Thanks Manijeh, its my pleasure :)
+2 Reply
Hi technician, the kiwi has been failed to reclaim 0.85 last week. Any updates of perspective for this coming week?
Thanks
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Hello GohSam, i am still expecting an upside rebound.
+1 Reply
Technician TOP Technician
so long as 0.8410 is holding
+2 Reply
Sam0101 Technician
Hi thanks for the reply. As usual ur charts are as always which are graphical simplicity n the analysis is good !
+1 Reply
Sam0101 Sam0101
Hi technician, is that a false break for kiwi. It seems bearish
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Sam0101 Sam0101
hey technician, whatssup for kiwi. the movement seems so unstable. is the correction on its way now?
Reply
interesting with the bullish hammer at major support. Thanks for the chart
+1 Reply
I just posted an idea on AUDUSD daily chart, would appreciate your comments, Thanks.
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NZDUSD at 0.8411
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THIS IS WHAT I FOUND - The New Zealand Dollar underperformed in overnight trade, falling as much as 0.3 percent on average against its leading counterparts. The currency sank to session lows after data from REINZ showed house sales fell 13 percent year-on-year in July. The Kiwi’s drop followed a decline in New Zealand’s front-end bond yields, pointing to fading RBNZ rate hike bets
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hey technician, is this the correction currently being progress and imposed
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I am still long the NZD, its my view. I cant recommend it to anyone, which will be considered an investment advice.
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And finally it's moving GohSam :)
+2 Reply
Sam0101 Technician
Good call technician. 0.855 will be the resistance right? Do u hav any other platforms i can follow ?
Reply
Not really, all my ideas here are posted at https://twitter.com/thefxchannel . also at my facebook page : https://www.facebook.com/thefxchannel
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I see next resistance around 0.8535
+1 Reply
Sam0101 Technician
down to 0.846 (50% retracement) n retest 0.851 n then 0.853?
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Hopefully, nothing sure but i remain positive for now.
+1 Reply
Sam0101 Technician
Hi, the US news have impact Kiwi badly. What u think for now
Reply
Yes indeed, I am out of my long now, but technically 0.8400 support level is a key for now, watch carefully that support.
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Sam0101 Technician
Hey technician, any updates for kiwi? it breaks the trend line.
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