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NZD/USD: Significant Monthly Bearish Reversal Targets .6650/00 On A Weekly Close

NZD/USD: Significant Monthly Bearish Reversal Targets .6650/00 On A Weekly Close

On March 9, 2017, Posted by , In Uncategorized, By , With No Comments

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February’s 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. A 3% decline in the past week has achieved our initial target (trend channel support now at 0.6960/80).

A weekly close below 0.6960/80 will target 0.6650/00.

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