NZD Analysis

I have been banging on a bit about NZD lately on twitter and I thought I might document some of my thought process and technical analysis into the blog as sometimes its hard to convery all of these thoughts into a tweet.

As regular readers are aware I conduct top down analysis of my pairs but rarely look much under the daily timeframe, so starting with the Monthly chart lets get started. 

The hammer in November was significant , with december starting out with a nice retrace of it to 0.7650 as expected.

 

The weekly chart is clearly now showing lower highs and lower lows.

 

This week I expect a pullback towards the 7450/7500 area for this pair before we continue with the trend lower.