We see downside risk Friday after a notable setback on Thursday as we had anticipated after the Wednesday Shooting Star and Monday Bearish Engulfing candlestick patterns back from .7738/40.
However, the strong rebound last week through the critical recovery high from March at .7697 confirmed the previous Double Bottom for a stronger recovery phase into late April.
We see a downside bias for .7534 and .7517; break here aims for .7483.
But above .7605 opens risk up to .7640, maybe .7687 , which we would look to try to cap.
Short/ Intermediate-term Outlook - Upside Risks:
Bigger picture, we see a more positive tone with the bullish threat to .7851.
Above here targets .7890 and maybe .7975/77.
What Changes This? Below .7483 eases bull risks; through .7422 signals a neutral tone, only shifting negative below .7391.
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2 Hour NZDUSD Chart