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Technical Analysis
Navigation FX - Technical & Fundamental Analysis
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[QUOTE="Navigation FX, post: 114294, member: 39595"] [SIZE=6][B]NZD/USD – End of Week Technical Analysis[/B][/SIZE] Since the rate cut from RBNZ from 2.00% to 1.75% the NZD has been on a bearish run. We can see an equidistant channel from the technical analysis. It is approaching the support line of the channel. By looking at RSI it is well below 50 (momentum turning bearish). If the support was to break the line of the channel, selling pressure will increase. We estimate that if the channel breaks, NZD/USD will depreciate 500 pips (the height of the channel) A really big short opportunity to look out for. Keep your eye on it. [IMG]http://www.navigationfx.com/wp-content/uploads/2016/11/111116.png[/IMG] [/QUOTE]
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