DAILY SPOT NZDUSD - Tuesday's call and technicals
Two bullish weekly Hammers at May’s 7 month low and the end to a sequence of lower weekly highs has kept this week’s signals pointing higher. However, sellers have returned to the market on Monday from close to the 100 & 200 day average rates, sentiment deteriorating by over ½ Big Fig on the day. With no sign yet that the pullback is ending the outlook for Tuesday is cautiously bearish and the call is to sell on the open and then at .6635 with a stop loss at .6666, this week’s opening trade. Targets are to .6580, Wednesday’s low, .6553, a 62% pullback to the gains posted since May’s base and .6527, June’s low trade.
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