Latest NZD USD Analysis and ForecastUpdated October 14th, 2021
Surge see shift to topside, maybe for key .7093
Day trade update and view
An aggressive, strong rally on Thursday through .6982/90 targets .7027 resistance and to reverse the down trend line from mid-September, rejecting bear forces from the late September plunge through multiple supports including our key level at .6978 (for an intermediate-term bearish shift), switching the bias to the upside Friday.
Day trade setup
- We see an upside bias for .7041 and .7055; a break here aims for key .7093 and maybe .7118.
- But below .6993 opens risk down to .6953/50 and possibly .6909/04.
The late September sell off through key .6978 signalled an intermediate-term shift to a bear trend.
- Downside risks: We see an intermediate-term bear trend to aim for .6803 and .6682/88.
- What changes this? Above .7093 shifts the intermediate-term bear trend straight to an intermediate-term bull trend.
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