Technical analysis of the NZDUSD daily and H4 chart.

NZDUSD Daily

Market is bearish. The trend has broken through support at just above MM1 and is now at a lower low. 21 is also about to cross below the 55. Price is also bearish as 8 is above the 5 and the stochastic is on a bearish trend.

Source: MT4

NZDUSD H4

Market is Bearish, as it just broke through support and became resistance. Bears are now at profit taking at WM1 and so bulls have entered the market. My prediction is that bears will sell again at support just above WS1 and continue the bearish trend till around the WS2 level.

Source: MT4

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