NZD/USD: Negative Range Bias Aims Through .8210
Steve Miley | Jan 27, 2014 03:06AM ET
NZD/USD Negative Range Bias Aims Through .8210 for key .8150/40 support
Erratic activity last week, but a notable probe lower on Friday, still capped below .8360, leaves a defensive tone, to aim for .8210 range support
We favour further erratic range activity into this week, defined by .8430/45 topping resistance and .8150/40 basing support, but with the focus lower..
The skewed bias remains down to/ through the range prop .8210 towards the lower end of this range to test .8150/40..
WHAT CHANGES THIS?
Downside: Only through .8140 sees a bear threat through .8120 and .8085 props to.8010, 61.8% retrace target.
Upside: Above .8430 topping resistance aims for the .8545 Q4 peak.
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