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NZD/USD Classical Technical Report 02.07

NZD/USD Classical Technical Report 02.07

Joel Kruger, Technical Strategist
Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 02.07

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 0.8300 before attempting fresh shorts.

--- Written by Joel Kruger, Technical Currency Strategist

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

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