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Friday, August 2, 2013

NZD/USD TECHNICAL ARTICLE ON AUGUEST 2, 2013




The market trend of NZD/USD has been showing its downtrend from this week open. It is easy to be considered as a trend reversal pattern once it returned from its resistance of 0.81056. 

For this whole week, the pair has stuck with the strong sell and it done obviously. The USD is now having good trend for all its pairs. The relative to this performance is providing good trading opportunities over the sell. Unless economic releases, the trend is to behave by the trader’s believe that the past trading will be repeat. 

Like this, the trend reversal has occurred and it should meet its support. By the technical indicators, it is predicted that the big support will be the position of 0.77723. 

The sequential sell of this pair has made many traders to be succeeded. And there will be a chance to break this trend but it should achieve its medium support of 0.78235 before the trend back occur. If the market crossed its first support, it is very assured to hit the support point of 0.77723.

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