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13.07.201808:20 Forex Analysis & Reviews: Technical analysis of NZD/USD for July 13, 2018

Long-term review

Exchange Rates 13.07.2018 analysis

The NZD/USD pair at 4-hour charts still moving in a Bearish bias. This condition is already seen by the price making higher low - lower low and making a few continuation Bearish chart patterns such as Bearish Flag, Bearish Pennant Flag and Broadening Up Channel. This pattern indicated the upper correction is weak and is confirmed by the Stochastic Oscillator already turning back from the Overbought level. So in next few hours as long as this pair does not break out and close above the 0.6855 it will continue its Bearish bias.

(Disclaimer)

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Arief Makmur,
Odborný analytik spoločnosti InstaForex
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