NZD/USD Strong Resistance at 0.8385 (Daily Strategy) 2012-02-03
NZD/USD
The New Zealand Dollar - U.S. dollar pair correlates with the stock markets around the world and the index level of fear marks a sharp decline in investor concerns.
At the technical level we see a marked upward trend, the pair has been detained by the second weekly resistance 0.8385, given that today is a weekend, there are fundamental data on the U.S. economy. It is important to take precautions due to market volatility.
We recommend you sell in (R_2) weekly. with a short-term objective 0.8178, just at the level of the uptrend line.
The Momentum indicator has entered into overbought area, there may be a change in trend.
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