EuroMotif

NZD.USD retrace and Bounce as planned, now at Key Resistance

FX:NZDUSD   Yeni Zelanda Doları / ABD Doları
Follow up to my post-RBNZ news analysis (click).

As you know, NU spiked based on RBNZ surprise.
It then retraced and bounced roughly as expected.
Now at Key Resistance that will determine trend.

Just before US Retail Sales report, we are at "make or break" point.
If the report is good, we will reject from one of these resistances.
If it is a "miss", then NU should blow through and make a new high.

Overall I am Bullish on NZD.

Previous Analysis:
.636 Support after RBNZ
.624 Long Call (perfect entry, huge profits)
.647 Short Targets
.634 Long Re-Entry (near perfect bounce call)


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