NZD/USD Classical 07.23
NZD/USD: Resistance by 0.7300 remains critical and how the market responds by this level will be key in terms of establishing directional bias. Any attempts to rally above this level have proved fleeting, resulting in some sharp pullbacks. However, should the market manage to establish above this level over the coming days, it could very well open a fresh upside extension to retest the yearly highs by 0.7400. In the interim, key levels to watch above and below come in by 0.7300 and 0.7100 respectively.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
If you wish to receive Joel's reports in a more timely fashion, e-mail firstname.lastname@example.org and you will be added to the " " list.
If you wish to discuss this topic or any other feel free to visit our Forum page
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.