NZD/USD Momentum Profile Makes Rally Worth Fighting
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-NZDUSD has completely retraced last week’s outside week reversal. The record (free float) high is at .8842 and obviously in play at this point. A daily close below .8674 would suggest something bearish.
-The momentum profile (divergence at the last 2 highs with the most recent top accompanied by RSI < 70) warns of an important top.
LEVELS: .8581 .8640 .8674 | .8719 .8760 .8790
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