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NZD/USD Classical Technical Report 04.04

NZD/USD Classical Technical Report 04.04

Joel Kruger, Technical Strategist
daily_classical_kiwi_body_nzd.png, NZD/USD Classical Technical Report 04.04

NZD/USD: The market has been locked in a sideways chop over the past several sessions to temporarily delay our bearish outlook. However, any rallies towards and just over 0.8200 are viewed as a formidable opportunity to look to establish fresh short positions in favor of underlying bear trend resumption. Look for renewed weakness and a break and close back below 0.8055 over the coming sessions. Ultimately, only a close back above 0.8300 would give reason for concern.

--- Written by Joel Kruger, Technical Currency Strategist

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

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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

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