7 Apr 2015
NZD/USD: Selling rallies favoured - FXCharts
FXStreet (Bali) - Jim Langlands, Founder at FXCharts, notes that for now, he is still inclined to sell rallies in the NZD/USD circa 0.7600 area.
Key Quotes
"With the short term momentum indicators pointing lower, a run towards 0.7500 would not surprise, below which would see a return to 0.7450 and then possibly to last week’s lows at 0.7390. On the topside, minor resistance lies at 0.7575 ahead of 0.0.7610 (100 DMA) and the session high at 0.7622."
"Overall, prefer to sell rallies in the 0.7600 area with a SL above 0.7650. Keep an eye out for the RBA decision. If they do cut, the price action could get very interesting as the cross heads towards parity which is not now very far away, having today already been down to 1.0021."
Key Quotes
"With the short term momentum indicators pointing lower, a run towards 0.7500 would not surprise, below which would see a return to 0.7450 and then possibly to last week’s lows at 0.7390. On the topside, minor resistance lies at 0.7575 ahead of 0.0.7610 (100 DMA) and the session high at 0.7622."
"Overall, prefer to sell rallies in the 0.7600 area with a SL above 0.7650. Keep an eye out for the RBA decision. If they do cut, the price action could get very interesting as the cross heads towards parity which is not now very far away, having today already been down to 1.0021."