The comm dolls have had a fair run up the hill lately. The NZDUSD looks cooked for now and started to roll-over, NFP resistance from last Friday at around 0.6840 ish was pushed through yesterday with barely a whimper as expected all the buyers got filled last Friday after the news.
So this begs the question where too from here, lets take a look at the chart:
For now I have left the 0.6845 line drawn in to illustrate yesterday's Euro, and US session push through this level. The market in my opinion is in clear air with plenty to chomp through all the way down to 0.6730ish area. There may be a small pull-back around 0.68 but I see this as a minor blip on the radar.
Trading opportunity starts from around 0.6825 where stops are probably going to gets triggered which will run this pair to the low 67's
I will keep updating in the next few days and see how this one plays out.
Simon
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