NZDUSD Testing Support Zone

24 Jul
2012
by in Uncategorized

The NZDUSD broke below daily price support at .7860 to touch the .382 fib at .7837 before bouncing higher.  This support area has contained the pair for over one month.  A move below this level would open the door up for a move down towards the 50 fib from the May lows at .7764.  A bounce from this are will find resistance starting at .7920 followed by .80.

Sup   .7860/37

Res   .7920

Keane Insight's:  The Trend is lower.  Waiting for a pullback to short.

 

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