NZDUSD: Daily Technical Update - Dec 08
(1)The pair moved decisively lower, reaching the downside targets inline with the prior technical updates.
(2)The price dips below 0.7680-0.7660 major support area and bottom of the main sideways range. and breaks below the minor descending channel shown on chart.
#No confirmation for further downside for now, I will wait for a daily closing below 0.7660 which will probably confirm the extension of the bearish wave, targeting next the 1.271 extension level at 0.7574.
Intraday bias remains to the downside
Expected Intraday Resistance : 0.7665 , 0.7700 , 0.7735
Expected Intraday Support: 0.7620 , 0.7575
Happy Trading :)
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Facebook page www.thefxchannel.com
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My best regards,
Technician
(1)The pair moved decisively lower, reaching the downside targets inline with the prior technical updates.
(2)The price dips below 0.7680-0.7660 major support area and bottom of the main sideways range. and breaks below the minor descending channel shown on chart.
#No confirmation for further downside for now, I will wait for a daily closing below 0.7660 which will probably confirm the extension of the bearish wave, targeting next the 1.271 extension level at 0.7574.
Intraday bias remains to the downside
Expected Intraday Resistance : 0.7665 , 0.7700 , 0.7735
Expected Intraday Support: 0.7620 , 0.7575
Happy Trading :)
Join me at twitter.com/thefxchannel
Facebook page www.thefxchannel.com
Google Plus : plus.google.com/+Thefxchannel0/posts
My best regards,
Technician
