NZD/USD – 0.6897 is a make or break level

25 Nis 2016

Resistance – 0.6897, 0.6966, 0.70

Support – 0.6835, 0.68, 0.6750

• Pair’s three-day losing streak and a convincing close below 0.6897 indicates a short-term top may be in place 0.7054.
  

• The uptick seen today if fails to take out 0.6897 would shift risk in favor of a drop to 0.6750 (rising trend line support).
  

• On the contrary, a day end closing above 0.6897 could yield 0.6965-0.6970, above which 0.7054 (latest cyclical high) stands exposed.