FX.co ★ NZD/USD: technical analysis for September 13, 2013

Trading recommendations:

NZD/USD:

According to the previous events, the price has still been trapped between 0.8130 and 0.8160

Long buying:

• Buy above 0.8060 with the first target at 0.8115, it might resume to 0.8160.

Short selling:

• Outlook -1-: Swing trade at 0.8162 in order to sell with a traget of 0.81.
• Outlook -2-: Below 0.8110 look for further descending movement with 0.8080 and 0.8058 as targets.

PS:

• it should be noted that the market will turn to bearish sentiment from the level of 0.8162.
• The level of 1.8162 will form a double top.