NZD/USD Classical Technical Report 01.06
NZD/USD: Any rallies are classified as corrective and we continue to see this market in the process of carving out a major longer-term top. From here, we look for the formation of the next major lower top below 0.8000 to be confirmed on a break back of 0.7370 over the coming weeks. Below 0.7370 should then accelerate towards next key support at 0.7110 further down. Ultimately, only a weekly close back above 0.8000 would negate.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email email@example.com. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.