Tue, 05 Nov 2013 07:24:58 GMT
NZD/USD 1H Chart: Double Bottom
NZD/USD formed a double bottom pattern, a breakout from which usually results in a sharp appreciation of the pair. However, this time the pair is facing hindrances while trying to advance after it re-approached the pattern's resistance. At the moment, the pair is trapped between 200- and 50-hour SMAs, with 200-hour SMA meandering above the pair and acting as formidable