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NZD/USD: Significant Bearish Reversal At Prominent MT/LT Resistance Levels

NZD/USD: Significant Bearish Reversal At Prominent MT/LT Resistance Levels

On February 16, 2017, Posted by , In Uncategorized, By , With No Comments

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Last weeks’ bearish reversal was significant, not only in terms of price action but also the key resistance levels that were rejected.This justifies a bearish multi-month outlook and material reversal of the 2017 uptrend. Initial target around 0.7070, the break of which targets 0.6850/0.6950: Watching MT momentum closely as we need to see this revert to a negative bias in the coming one to two weeks in order to maintain a negative MT outlook.

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