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NZD/USD Classical Technical Report 01.31

NZD/USD Classical Technical Report 01.31

Joel Kruger, Technical Strategist
Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 01.31

NZD/USD: The rally could finally be on the verge of stalling out after the market broke back below last Friday’s low to end a sequence of consecutive positive closes and consecutive daily higher lows. Look for a daily close below 0.8200 on Tuesday to confirm bias and accelerate declines back below 0.8000 and towards 0.7500 over the coming weeks. Ultimately, only a break and close back above 0.8300 would delay outlook and give reason for pause.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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