NZDUSD Bearish, Targets Further Downside Pressure

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Wednesday 28 OCT15

• NZDUSD Bearish, Targets Further Downside Pressure
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Commodity Technical Research www.fxtechstrategy.c
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USDCAD
NZDUSD Bearish, Targets Further Downside
Pressure NZDUSD With NZDUSD remaining weak and
vulnerable to the downside , further weakness is
expected. Support lies at the 0.6700 level where
a break will aim at the 0.6650 level. Further
down, the 0.6600 level comes in as the next
downside target. Its daily RSI is bearish and
pointing lower suggesting further weakness.
Conversely, resistance resides at the 0.6800
level where a break will aim at the 0.6850 level.
A break of here will have to occur to create
scope for a run at the 0.6900 level. Further out,
resistance stands at the 0.6950 level. All in
all, NZDUSD remains biased to the downside nearer
term on correction.
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