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NZDUSD Bear Risks from Multi-Year Double Top

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NZDUSD Bear Risks from Multi-Year Double Top

A minor Friday downside probe after the midweek plunge to a new setback low, down from the trend line from mid-January and chart barriers at .7525/30,

The push below our next key target,  .7371, the 2011 cycle low has confirmed a multi-year Double Top pattern and also below the 38.2% retrace of the entire 2009-11 rally at .7335 for a still more bearish theme to leave risk to further key long term supports.

A taster of the report above. To view the full NZDUSD report with screencasts, levels and more, click here
Remember, for a FREE trial of our FX and all other reports, sign up by clicking here

 

Monthly NZDUSD Chart

b2ap3_thumbnail_NZDUSD1.png

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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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