Latest NZD USD Analysis and ForecastUpdated January 20th, 2022
Hesitant bounce and setback, risk stays lower
Day trade update and view
A cautious Thursday bounce and a setback (as also seen Wednesday), and whilst below .6811 we hold onto negative pressure from Tuesday's sell off through key .6770 support (that shifted the intermediate-term outlook back to bearish), keeping risks lower for Friday.
Day trade setup
- We see a downside bias for .6747 and .6733/30; a break here maybe aims for 6699.
- But above .6811 opens risk up to .6838/42 and possibly key .6891.
The push below key .6770 support signalled an intermediate-term shift to a bear trend.
- Upside risks: We see an intermediate-term bear trend to aim for .6699 and .6500.
- What changes this? Above .6891 shifts the intermediate-term bear trend straight to an intermediate-term bull trend.
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BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
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