NZD/USD Harami Takes Shape Near Key Support Zone
- NZD/USD Technical Strategy: Pending Short
- Awaiting Downside Break While Harami Lacks Confirmation
- H4 Chart Hinting At A Potential Intraday Advance
NZD/USD remains at a critical juncture near the 0.7700/30 barrier as a Harami pattern emerges on the daily. Yet the key reversal signal awaits the close of the current candle and a successive up-session to signal a potential reversal. If this is not received a downside break would be preferred for fresh short positioning with a target offered by the 2012 low near 0.7450.
NZD/USD: Awaiting Breakout Below Critical Barrier
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
The four hour chart offers a more constructive setup for the Kiwi bulls. A Morning Star pattern and probe above the 0.7740 mark suggests a possible advance towards the next intraday barrier at 0.7790.
NZD/USD: Bullish Pattern Emerges In Intraday Trade
Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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