Friday, January 16, 2015

Bearish trendline is holding down the Kiwi

On the NZD/USD we had noticed that the price has been oscillating within a bearish channel, but is really the upper boundary of the channel or the upper trendline the one that has been holding the price down and it has not allowed the pair to break above the zone. However, a breakout of that trendline to the upside could take the price to the 200 exponential moving average around the 0.8037 level. From that moving average we could see a bounce back to the downside.


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