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NZD/USD Technical Analysis
June 6-9, 2011
Pivot Point: 0.8133
June 6-9, 2011
Pivot Point: 0.8133
The NZD/USD's subsequent sharp fall suggests that decline from 0.8213 since 24/02/2008 at 00:00 (GMT+2),
and had resumed to 0.4892. But the NSD/USD's recovery from this price (0.4892) till 0.8266 as a high price last week.
It seems rebound from the strong level of 0.8213 and it will probably form double top around this area.
In such case, the NZD/USD's will revive in that case recovery on level of 0.8200 with a first target of 0.8140 and continue
towards 0.8000, if the pair close below the Pivot Point (0.8133), as well as the RSI calls for a new fall
then the downside will be prevailed. However, if close above 0.8213 would invalidate this scenario.
Signal
Short Selling at 0.8200
Take Profit at 0.8150 as 1st target and at 0.8050 as 2nd target
Stop Loss at 0.8245