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NZD/USD Short (Technical) Long-term

NZD/USD Short (Technical) Long-term

On January 24, 2017, Posted by , In Uncategorized, By , , With No Comments

NZDUSD

The decline from this months high and reversal from critical resistance levels highlights the potential for a more sustained corrective phase. The .7370/7400 zone 76.4% retracement should continue to act as critical resistance.

Still the near term set up can allow for additional pause as the recent lows effectively held the next zone of support in the 7069/6952 area-includes the 200-day moving average, 61.8% retracement and the July low.

Near term bounces should find resistance at 7115/45 area which includes the 38.2%. Above here would imply a deeper retracement into 7200/40 zone

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