tradersvision

NZD/USD - Intraday Observation - UPDATE_2

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
147 0 0
Will we see another test of the lower end of the trading range or will the next move clear resistance that acted as support just a few days ago? This last channel (dotted trendlines ) looks like that it is not going to hold for long. On the other hand - once resistance (former support aroung 0.8265) is broken to the upside - I would go cautiously long for the rise to the important high of 0.8355. Once this level is taken, the way is free for higher prices like projected in the weekly analysis for this pair (see Weekly Triangle Target - 3 days ago). The downtrend in the Dollar Index             can only help although this pair is not included in the calculation of the DXY             .
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