NZD/USD - Bearish & Sell .6863 Rally. Stop .6894, Tuesday
|This week's signals for sentiment are positive but although early price action Monday saw NZDUSD bought to 2 week highs, that demand proved limited. Late, European, selling interest emerged below .6900 and although the net decline was limited, a sequence of 3 up days was ended. The market remains above the key mvg avg area but with sellers seen in Asia, immediate technical studies are negative. So, this morning’s call is a Sell but leaving room to Sell any Rally to .6863, Asia’s high. The risk is .6894, Monday’s peak, with an immediate target of .6814, the 13 day line. A move through that point then exposes sentiment to .6788, the 50 day average, or even .6751, the 200 day mvg avg.
Sequence Ends
NZDUSD Current Trading Positions
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