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NZD/USD Remains Resilient Amid A Void Of Bearish Candlestick Patterns

NZD/USD Remains Resilient Amid A Void Of Bearish Candlestick Patterns

2014-11-18 05:00:00
David de Ferranti, Currency Analyst
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Talking Points

  • Strategy: Flat
  • Bearish Reversal Signals Lacking On The Daily
  • Intraday Range Leaves More Constructive Setup Desired

NZD/USD remains buoyant with a lack of key reversal candlestick patterns casting doubt on a potential pullback. Yet the scope for further gains may be limited by sellers sitting nearby at the psychologically-significant 0.8000 handle.

NZD/USD: Bearish Reversal Signals Remain Lacking

NZD/USD Remains Resilient Amid A Void Of Bearish Candlestick Patterns

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

A narrow intraday range on the four chart offers few reliable candlestick patterns to work with. This leaves a more constructive setup desired to offer a clearer technical bias for the pair.

NZD/USD: Intraday Range Leaves Clearer Cues Desired

NZD/USD Remains Resilient Amid A Void Of Bearish Candlestick Patterns

Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @DaviddeFe

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