NZD/USD to fall to target level 0.8098 in three trading days

by Admin

As can be seen from this trade opportunity alert which I received today for NZD/USD, this pair is expected to reach the target level 0.8098 in the following 3 trading days. The price today broke the daily Rising Wedge from the 8th of October of 2012. Autochartist set the stop level for this forecast at 0.8535 (point B, the top of the broken Rising Wedge). The downward sloping moving average indicates intensifying downward momentum which should help NZD/USD penetrate the next support level 0.81553 (point A) and fall to the target level 0.8098 in 3 days.


Calculated by Autochartist for NZD/USD (0.8295 to 0.8184) is located below the lower support trendline of the above Rising Wedge – which increases the probability that NZD/USD will fall further tomorrow.