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NZD/USD Classical Technical Report 12.19

NZD/USD Classical Technical Report 12.19

2011-12-19 07:15:00
Joel Kruger, Technical Strategist
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Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 12.19

NZD/USD: This market remains under intense pressure and has once again been aggressively sold into the latest rally towards 0.8000. From here, we look for the formation of the next lower top by 0.7880 to be confirmed ona break back below 0.7370 over the coming sessions. Below 0.7370 should then accelerate towards next key support at 0.7110 further down. Ultimately, only back above 0.7900 would negate.

--- Written by Joel Kruger, Technical Currency Strategist

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