NZD/USD, Daily Chart Analysis 6/12
Implications and Outlook
1. Price action has created the value of the intermediate-term Currency Rally and Mean Resistance at 0.70410, which in the interim continuously denies the breakout.
2. The breakout momentum is likely to hit Key Resistance 0.70830 or drop to the Mean Support of 0.69550 and 0.68620 level.
3. The violation of the intermediate-term Key Resistance 0.70830 will undoubtedly bring serious of the short-term bullish implications, having additional upside target to Currency Rally of 0.71380.
4. Current Bullish/Bearish bias is 60/40
1. Price action has created the value of the intermediate-term Currency Rally and Mean Resistance at 0.70410, which in the interim continuously denies the breakout.
2. The breakout momentum is likely to hit Key Resistance 0.70830 or drop to the Mean Support of 0.69550 and 0.68620 level.
3. The violation of the intermediate-term Key Resistance 0.70830 will undoubtedly bring serious of the short-term bullish implications, having additional upside target to Currency Rally of 0.71380.
4. Current Bullish/Bearish bias is 60/40
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