13 Feb 2015
NZD/USD: indicators turn positive, dips to be underpinned - FXCharts
FXStreet (Bali) - According to Jim Langlands, Founder at FXCharts, it may be a day of consolidation for NZD/USD today, adding that the shorter term indicators have turned positive, suggesting dips looks set to be underpinned.
Key Quotes
"With no data due for release today it may be a day of consolidation although the shorter term indicators do point higher so dips appear likely to be underpinned. If the Kiwi does head higher, then 0.7485 will be the first target, above which would take a look at 0.7500."
"Beyond there would hint at a test of the base of the previous channel that dominated trade, which currently lies at around 0.7535, and which is also the daily Kijun and the 50% pivot of 0.7887/0.7175 and should prove tough to overcome. A break of this though, would then suggest a move towards Fibo resistance at 0.7615 (61.8%)."
"The downside will now see bids at 0.7400, below which would head back to 0.7370 and 0.7350. I don’t really see it down here today, but if wrong, further bids would arrive at the session low at 0.7313 and then again at 0.7300.".
Key Quotes
"With no data due for release today it may be a day of consolidation although the shorter term indicators do point higher so dips appear likely to be underpinned. If the Kiwi does head higher, then 0.7485 will be the first target, above which would take a look at 0.7500."
"Beyond there would hint at a test of the base of the previous channel that dominated trade, which currently lies at around 0.7535, and which is also the daily Kijun and the 50% pivot of 0.7887/0.7175 and should prove tough to overcome. A break of this though, would then suggest a move towards Fibo resistance at 0.7615 (61.8%)."
"The downside will now see bids at 0.7400, below which would head back to 0.7370 and 0.7350. I don’t really see it down here today, but if wrong, further bids would arrive at the session low at 0.7313 and then again at 0.7300.".