NZD/USD Classical Technical Report 02.03
NZD/USD: Although the market has been very well bid over the past couple of weeks, we continue to retain a broader bearish outlook and look for these rallies to soon stall in favor of a major downside extension. Daily studies are now overbought, while the market should find some formidable resistance above 0.8300. As such, selling at current levels seems attractive, but conservative players could look for a close back below 0.8200 before attempting fresh shorts.
--- 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.