NZDUSD Outside Day Near Top of Range
Prepared by Jamie Saettele, CMT
The NZDUSD remains in a range. Failure near the top of the range is bearish but “the AUDUSD has obviously been the better play and there isn’t much reason for that change (except for short term corrections) as the next AUDNZD support isn’t until 12317.” Price is currently in the middle of its range at nearly every degree of trend (52 week, 60 day, 20 day, 5 day). The middle of a range is usually the most unpredictable. In any case, continued weakness targets 8115.
Bottom Line (next 5 days) – sideways/lower?
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