As expected from yesterday's analysis NZDUSD dropped and now it's pressed near the support of .6983 that might pressure a correction.
Daily Pivot: .7023
Long anywhere near .6983
TP .7015; continue buying if it breaks .7023 and target .7070
Yen broke higher than expected after the United States Homes sales report last night but closed closer to the expected 112.44, after the rally. Expect a correction today.
Pivot point: 112.09
Short anywhere neart 112.50
Stop Loss: 113.00
Looks like range trading has a good chance to happen this time just about enough to complete the formation for a continuing bullish channel.
Short anywhere near .78102 and close near .6900; meanwhile take a long at .6900 and hold long term til profit satisfies you.