Confirmation for a continuation to .69 and .71 was not received. I made a comment on the previous NZDUSD analysis after Monday's trading that the trend of monday was very likely to continue into Tuesday's trading and beyond. You can see that analysis below.
With this week's trading already close to half over we're coming up to a very key level, should this level break we will be in a multi week downtrend continuation for the NZDUSD (which could begin the GBPNZD , EURNZD and GBPAUD trends we've been keeping an eye on).
What to look for as we approach the line shown: Look for consolidation before, or a break and a retest of for an entry. Due to the severity of this move so far, let's keep it in perspective that consolidations may be limited. If the market ends up breaking this line this week, look for the retest to occur early next week.
I do not recommend any NZDUSD or XXX/NZD trades - at this point in time I would consider either one of those high risk trades.
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