Wednesday 10 June 2015

NZDUSD Analysis



NZDUSD 4HR

NZDUSD is in a strong downtrend and is currently in wave 4 of a 5 wave down move. The market is currently at the 382 retracement level of wave (iii) and should rise into the key resistance price zone of 0.7226-0.7272 before falling. 0.7272 represents the monthly pivot and is a key resistance level.
Prices are expected to rally to around 0.7226-0.7272 before falling


NZDUSD 1HR

The NZDUSD on the verge of completing a bearish gartley butterfly pattern ahead of  the RBNZ interest rate decision later today