DAILY SPOT NZDUSD - Thursday's call and technicals
Following 2 unchanged daily closes in a row, Wednesday’s signals switched to bearish. These were confirmed with sentiment ending a sequence of higher daily lows with a loss of over ½ Big Fig. Prices are trading back below their 50 & 200 day average rates which is negative but remain above the 100 day line as well as last week’s .6692 base. Until these levels are broken there remains a degree of caution, but with signals pointing lower the outlook for Thursday is bearish and the call is to sell on the open and then at .6775, today’s opening trade in Asia with a stop loss at .6802, Wednesday’s Marabuzo line. Targets are to .6723, the 9th Jan open, .6692, the 9th Jan low and .6669, the 4th Jan base.
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