NZDUSD Bearish Key Reversal is First Since April 13th
Prepared by Jamie Saettele, CMT
The NZDUSD carved out a bearish key reversal today. This is the 4th bearish key reversal of the year. The other 3 were 2/15, 2/29 (high for 2012), and 4/13. The reversal and fact that the advance from the 6/1 low consists of 2 equal waves (exact equality would have been 8000) is a powerful combination. The NYSE TRIN implications apply mentioned in the AUDUSD commentary apply. In summary, expect sideways / higher action Friday before additional weakness next week.
LEVELS: 7750 7810 7840 7890 7915 7940
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