The kiwi may not be everyone’s favourite fruit, myself included, but its namesake currency pair is one of the most technically-friendly pairs out there at the moment. If the doubters needed to see one chart right now to be convinced that technical analysis (if used correctly) does really work, then they should look no further than the daily chart of the NZD/USD, below. Virtually all of the red horizontal lines drawn on the chart show some of most obvious entry points for the bears. These levels plainly show how a key support level, once broken, turns into resistance. The most obvious examples of these are at 0.6410, 0.6500 and 0.7200. In ... (full story)