22nd Aug - NZD/USD Returns Towards Key Support Again
22 August 2013
WEEKLY CHART:
The channel base projection, at 0.7685 now, has so far provided nice support.
A break of this would be the next sign of failing upward momentum here, and turn focus on the 38.2% retracement.
DAILY CHART:
The latest recovery off the 76.4% area has found resistance around the 0.8159 13-Mar low and 50% level. Price is returning once more to the support, and is obviously struggling to retain any upward momentum. Breach of support would call for lower targets.
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22nd Aug - Copper Recovery Threatened by Resistances