NZD/USD forecast July 23, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

NZD/USD fell during the session on Friday to break back down below the 0.80 level. The weekly charts look confused, and looking at this daily chart you can see why. The supportive candles from earlier in the week suggest that we will have a hard time falling, and as such we are not willing to short this pair at this point in time yet.

The market looks more range bound than anything else, and as a result we are looking for a trading environment that favors trading between the 0.79 and 0.8050 levels. The market looks like we are about to grind sideways, and as such we aren’t involved in this pair.

NZD/USD forecast July 23, 2012, Technical Analysis

NZD/USD forecast July 23, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network