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Monday, August 26, 2013

NZD/USD TECHNICAL ANALYSIS ON AUGUST 26




The trend of NZD/USD has put an end to its consecutive sell and began its long on this week open in 0.77984. This trend reversal has done in the belief of the great resistance. 

For the last week, the USD has gained a bunch of 400 pips against the NZD and it is considerable for this pair. By this substantial gain of USD has led the short to be oversold. So, it is obviously giving favor to the uptrend and leads the market towards the resistance. 

The short term and long term moving average is predicting the tremendous uptrend to achieve a gain of about  70+ pips. Even though, the trend has been showing its uptrend from the beginning of today, it is clearly predicted as  long in the point of 0.78371. 

Once it crosses the initial resistance, it will be trending towards the top to find its great resistance. If the indicators are right, it could be assured of getting the 70+ pips. Perhaps, the trend will continue this long, it is highly possible to compensate the last week short.

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