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NZD/USD Poised To Challenge .7605

Published 07/15/2013, 02:40 AM
Updated 12/12/2023, 05:55 AM
NZD/USD
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NZD/USD poised to challenge key neckline, 0.7605
  • Further erosion into the end of last week after an extremely aggressive head fake failure with a bearish outside Thursday from ahead of.8053.
  • This leaves downside threat to the .7690 cycle low into this week, particularly having previously probed below the 78.6% retrace of the 2012-13 rally, .7720.
  • Bearish extension risk through mid-July is through an interim prop .7620 and a key neckline support at .7605, then to aim for the 2012 low at .7455
  • Growing July threat however, is to a critical 2011 low .7370; a break confirms a bigger top.
WHAT CHANGES THIS?
  • Above .7968 eases bear risks, only to neutral through above .8053.
Please see latest audio-visualanalysis here

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