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