25 Feb 2015
NZD/USD: ST charts noncommittal - FXCharts
FXStreet (Bali) - According to Jim Langlands, Founder at FXCharts, the short term charts in NZD/USD look rather noncommittal for the time being.
Key Quotes
"The short term charts now look rather noncommittal as they attempt to break back above the recent rising trend support which will now act as short term resistance."
"Currently sitting right on this level, further gains would see another attempt to regain 0.7500 (200 HMA), 0.7515 (100 HMA) and possibly the session high at 0.7533. I would be surprised to see the Kiwi up here today, but if wrong, and the Kiwi does head higher, then look for another run up to 0.7550, where plenty of sellers are supposedly lined up, and then to the trend high at 0.7573."
"Back to the downside, 0.7450 and the session low at the Fibo support at 0.7421 (38.2% of 0.7175/0.7573), the next target will be the 13 Feb low at 0.7410 and then 0.7400."
Key Quotes
"The short term charts now look rather noncommittal as they attempt to break back above the recent rising trend support which will now act as short term resistance."
"Currently sitting right on this level, further gains would see another attempt to regain 0.7500 (200 HMA), 0.7515 (100 HMA) and possibly the session high at 0.7533. I would be surprised to see the Kiwi up here today, but if wrong, and the Kiwi does head higher, then look for another run up to 0.7550, where plenty of sellers are supposedly lined up, and then to the trend high at 0.7573."
"Back to the downside, 0.7450 and the session low at the Fibo support at 0.7421 (38.2% of 0.7175/0.7573), the next target will be the 13 Feb low at 0.7410 and then 0.7400."