FX.co ★ NZD/USD Bearish Outlook, April 26, 2011 (Daily Strategy)

NZD/USD

The analysis of the daily graph of the New Zealand dollar - United States dollar pair show the potential change of trend in the short term, the price of the pair is fluctuating near the second monthly resistance around 0.7994. If in the course of the day the price of the pair trading below this level, would be a clear signal to enter an agreement of sale with a first goal in the fractal formed around the 0.7810 level and final goal in the monthly pivot around 0.7460.

It is important to note that the MACD indicator mark a negative deviation and support reversal of the trend.