NZDUSD: Keep an Eye on 0.6985 Next Week

It isn’t clear whether or not the NZDUSD will make it as high as 0.6985 next week. If it does, I’ll be on the lookout for a favorable selling opportunity. If it doesn’t, I will wait for a daily close below 0.6820, unless an entry materializes on the 4-hour chart.

A daily close at 5 pm EST below the 0.6820 handle would target the May 2016 low at 0.6675. Alternatively, a daily close back above the 0.6985 resistance area would turn our attention higher. Until that time, I’ll remain bearish the NZDUSD.

Source: bit.ly/2zvtIHo