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Monday, 24 June 2013

NZD/USD H4 Update

General Overview:

The bullish divergence on Daily chart suggest the wave 3 has ended @ 0.7695 OR there is one small degree wave missing before the corrective bounce in wave 4 will occur.


The Key Level for further upside is at Key Zone: any breakout would mean more complex and time consuming correction.

Support/Resistance:
0.8135 - Swing High
0.8000 - 0.8050 - Key Zone
0.7915 - descending trend line resistance
0.7695 - Swing Low


Trading Recommendation:
Easy money has been done here so patience is required. More agressive traders can go long after the low of wave 5 is confirmed with the first target on 0.8000 zone.

Seb

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