NZDUSD - Neutral Signals, Trade a Break
A bullish reversal at the daily level on Monday, supported by the 13 daily average rate left signals for Tuesday as bullish. This stance was proven correct, with prices posting a 2nd higher daily high & low in a row. However, sellers have returned to the market, prices declining almost 1 Big Fig, and closing little changed. Trend signals for Wednesday are thus weak and the call is to remain neutral from in between Tuesday's .6414 - .6507 range. Losses through .6414 target Monday's low at .6381 or even the 200 DMA at .6322, while gains through .6507 targets last week's top at .6584 or even the Jan 24 high trade at .6629.
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