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    Technical analysis for the NZDUSD on 09.07.2015

    The NZDUSD broke the descending trend line at 0.6700

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 0.6850

    Min. 0.6620

    nzdusd4

    The New Zealand dollar’s decline halted at 0.6620 support, and the price rebounded up, breaking the descending trend line of 0.6700.

    The breakout of the 0.6700 descending trend line – especially considering the dollar’s correction across the board – is a good signal in favor of further growth.

    Potential growth target is situated at the upper border of the descending channel – 0.6840. The test of the upper border will most likely trigger consolidation, followed by the bounce down.

    Alternative scenario: reversal below 0.6735 support may trigger another decline into 0.6620.

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

    The NZDUSD broke the descending trend line at 0.6700

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 0.6850

    Min. 0.6620

    nzdusd4

    The New Zealand dollar’s decline halted at 0.6620 support, and the price rebounded up, breaking the descending trend line of 0.6700.

    The breakout of the 0.6700 descending trend line – especially considering the dollar’s correction across the board – is a good signal in favor of further growth.

    Potential growth target is situated at the upper border of the descending channel – 0.6840. The test of the upper border will most likely trigger consolidation, followed by the bounce down.

    Alternative scenario: reversal below 0.6735 support may trigger another decline into 0.6620.

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!


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