Tanalys

NZD/USD ST: the downside prevails.

Pivot: 0.787

Our preference: Short positions below 0.787 with targets @ 0.713 0.695 in extension.

Alternative scenario: Above 0.787 look for further upside with 0.804 0.825 as targets.

Comment: The immediate trend remains down and the momentum is strong. The downside breakout of the 0.765 former support area is a negative signal calling for further weakness.

Supports and resistances:

0.825

0.804

0.787

0.7295 Last

0.713

0.695

0.657

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