To repeat what I have said over the past week…”A countertrend move back to the .7200 area or higher is probably underway. This level intersects with the underside of a former support line that was broken in August.”
Expect resistance near .70. The NZDUSD may be nearing the end of a 3 wave movement from the low. While this could be the first leg in a triangle or flat, risk is quickly shifting to the downside.
