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NZDUSD Downside Bias

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NZDUSD Downside Bias

A stall last week, back from the topping line from latter March and recent peaks at .7608/09 and we looked for a a negative bias early this week, stating "we see a downside bias for .7486; break here aims for .7453, maybe .7425".

We further question our positive bias for April from the Double bottom pattern from late March (previously questioned by the weekly Gravestone Doji from the same week).

But only below .7391 signals a shift back to a broader range theme.

For Today:

We see a downside bias for .7421; break here aims for .7391, maybe .7320.

But above .7485/87 opens risk up to .7538, which we would look to try to cap.

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



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Tagged in: Forex FX NZD NZDUSD USD

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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