See Yesterday's Update before reading... Monday Update:
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Daily Technical Update - December 03
NZDUSD retested the 50-days SMA and the top of the minor falling channel, before moving lower again towards 0.7765 recent low and target in line with previous outlook.
Outlook: Further downside remains the likely near term scenario, which will be confirmed on a break below 0.7765, targeting 0.7720 then 0.7660-0.7670. Only stability back above the falling channel would negate the near term downside bias.
Happy Trading :)
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
Daily Technical Update - December 03
NZDUSD retested the 50-days SMA and the top of the minor falling channel, before moving lower again towards 0.7765 recent low and target in line with previous outlook.
Outlook: Further downside remains the likely near term scenario, which will be confirmed on a break below 0.7765, targeting 0.7720 then 0.7660-0.7670. Only stability back above the falling channel would negate the near term downside bias.
Happy Trading :)
Join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
