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$NZDUSD Bear Pressures Intact

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$NZDUSD Bear Pressures Intact

Another rebound stall ahead of .6930 resistance to maintain negative pressures.

The previous push through key long term support at .6870 reinforced a bearish bias for late June and into July after the RBNZ June rate cut bear gap (7081-.7200 on our charts) .

For Today:

We see a downside bias for .6850 and .6812/05; break here aims for .6770.

But above .6930 opens risk up to .6982, which we would look to try to cap.

Short/ Intermediate-term Outlook - Downside Risks:

We see a negative tone with the bearish threat to .6562 and .6404.

What Changes This? Above .7272 eases bear risks; through .7396 signals a neutral tone, only shifting positive above .7564.

A taster of the report above. To view the full NZDUSD report with screencasts, levels and more, click here
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2 Hour NZDUSD Chart


Daily NZDUSD Chart


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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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