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NZD/USD Classical Technical Report 04.20

NZD/USD Classical Technical Report 04.20

Joel Kruger, Technical Strategist
Daily_Classical_NZDUSD_body_nzd.png, NZD/USD Classical Technical Report 04.20

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 0.8300 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

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