Nzd/usd 01.18.12

The NZD broke-through the “cup & handle” pattern at 0.787 on the previous Monday. It almost reached the target we set at 0.80, but got the resistance a bit sooner at 0.798. The pair retested the break-up area on Thursday and the expected support appeared there, which created the long-tail doji candlestick that day.
Stochastic high levels are indicating that the pair is overbought so it might make a deeper correction before it continues rising. However, the cross of the 20 EMA above the 50 EMA is a strong bullish signal for the Kiwi, and if it break-through the 200 SMA at 0.803, it might continue to 0.82.

Nzd/Usd wave up 0.8282-.8353 It should try higher up to future target @ 0.84
After this target, a correction down is expected.
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