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NZDUSD: Turn Lower Brewing Near 0.80
Written by article default Friday, 14 October 2011 09:42
Strategy: Pending Short
NZDUSD put in a bearish Hanging Man candlestick below resistance at 0.7965, the August 9 low. The barrier is reinforced by a falling trend line connecting major highs since August 31. We will look for confirmation on a daily close below 0.7874, the midpoint of the October 12 candle, to begin actively looking for selling opportunities.
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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