Only charts

Technically speaking nzd/usd is under pressure after falling 300 pips from the critical resistance at 0.7380$ area. The pair has fallen to 0.7070$ area which provided mediocre support helping create a rebound to resistance area around 0.7145$ . The pair was rejected retracing back to 0.7095$ before rallying again to 0.7130$ I expect that rally to fade now and fall again to 0.7078$ area again before resuming any decline.

EURNZD broke bearish trendline as shown below on 23 sep. at the area of 1.5420 , the pair has been also forming an uptrend line which it broke yesterday at 1.5420 as well . The pair is currently testing the former bearish trendline at 1.5230 , if that line holds , we might get back to 1.5540 area soon which if conquered , we will be trading at 1.59 area. However , we might see a war between trend lines in the coming days . I will keep you updated . I am currently long at 1.5270 targeting 1.5540 with stop loss on daily close below 1.5170

The pair has been on the run during the past few weeks and stabilising on daily and weekly basis. On the hourly time frame , The pair is supported at the area of 0.9510 and will probably looking for a move higher but it will be still bounded by the bearish trend line formed on the 4h chart. The pair also has a supportive trend line on the 4h chart , so I prefer breaking out higher and trading above 0.96 figure all the way to 0.9680 area. A close below 0.95 on the 1h chart is warning and a close below the trend line on the 4h chart is an invalidation of the trade.. Happy trading Remember to follow me on twitter for more trading ideas and updates on this trade and more ..