Following the 3 wave corrective rally to 6912, the NZDUSD has declined in an impulsive manner therefore the larger trend remains down. 6700 is short term resistance if needed. A break of 6557 would shift focus to 6080-6150.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to jsaettele@dailyfx.com.
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