Monday, May 11, 2015
The Kiwi continues falling
Last
week we saw how the NZD/USD pulled back to the 0.7500 level, but it couldn’t break
that level to the upside. Besides, the 55 EMA (purple line) on the 4 hour chart
has crossed below the 200 EMA (blue line), giving us an indication that the
bearish trend may continue. The drop has taken the price below the 0.7400 level
and it could get to the 0.7300 level. Attention to a possible visit of the 0.7300
level, because the area could become a good support for the pair.
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The trend seems to be losing strength.
ReplyDeleteLet's see whether it'll be able to break below 0.7300.
ReplyDeleteGreat analysis!
ReplyDeleteGreat true. This analysis is very useful!
ReplyDeleteCorrection or change of trend?
ReplyDeleteIt's still a good support area.
ReplyDeleteGreat analysis. thank you for sharing
ReplyDelete