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NZD/USD Classical 07.13

NZD/USD Classical 07.13

2010-07-13 05:05:00
Joel Kruger, Technical Strategist
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NZD/USD:  Although rallies have extended back towards the multi-day range highs in the 0.7100’s, we do not expect the strength to continue and instead favor the prospects for a bearish reversal. Daily studies are starting to look a little stretched and only a close back above 0.7200 would ultimately give reason for concern. Back below 0.7055 however will confirm outlook and should accelerate declines. 

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 
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