NZD/USD Classical Technical Report 02.29
NZD/USD: After trading well into overbought territory, daily studies are finally starting to roll over to warn of a near-term top and potential bearish reversal. Look for a break back below 0.8250 to confirm reversal prospects and open downside acceleration towards the 0.8000 area. A daily close back above 0.8550 however negates and gives reason for pause.
--- 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.