NZD/USD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
NZD/USD's outlook is bearish. The pair is currently trading near the 19-month resistance trend-line, which implies that any attempts of appreciation are to be prevented by 0.6690. At the same time, this suggests that the nearby support lines (at 0.6590 and at 0.64) should eventually be broken to the downside, even if they trigger some buying in the short term. Meanwhile, if the price somehow manages to close above 67 cents, the first target will be the monthly R1 and Feb 5 high at 0.6770/50, followed by a combination of the last year's Oct and Dec peaks at 0.6900/0.6880. As for the sentiment, the SWFX traders are divided regarding Kiwi's prospects: 55% are long and 45% are short.
© Dukascopy Bank SA
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