NZDUSD Still riding the channel

17 May
2012
by in Uncategorized

The NZDUSD is still in its channel riding lower.  I know I have said it before but this pair is in need of a bounce.  In the mean time I am looking to counter any moves down to channel trend line support.  Has moved sideways over the last few day.  Daily support is at 76.20 and trend line support is at 75.75.  Resistance is still at 77.

Sup      76.20            75.75

Res      77

The NZDUSD is smake in the middle of its channel and is finding trouble moving