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NZDUSD : Downfall Seems Limited

(NZDUSD : 4 Hour Chart)

NZDUSD is trading within a narrow range of at .8700 and support at .8642. Within this narrow range a descending triangle trend can be seen with support at .8642 and a downward sloping trend line according to which the pair should continue to decline breaking the support. But the downfall seems limited as there is a rising support trend line which the pair is experiencing since long time. Also 50 day SMA just crosses the 200 day SMA giving a strong bullish signal. So there are postential gains in the fate of NZD.

(NZDUSD : Daily Chart)

On the Daily Chart, we can clearly see an ascending triangle trend according to which the pair should continue to follow uptrend breaking the resistance at .8700.