NZDUSD aims higher again after bull break, for .8675 cycle peak A cautious tone on Friday, digesting both the bullish outside Wednesday pattern from
NZDUSD aims higher again after bull break, for .8675 cycle peak
A cautious tone on Friday, digesting both the bullish outside Wednesday pattern from support now at .8450/40 and a robust Thursday follow-through to maintain our near term bullish view.
This reinforces the bull move above the Q4 2013 peak, .8545, further topping targets from last year at .8555/85 and the long term 2011-14 triangle.
The risk remains for a push up close to the 2013 high at .8675 this week with overshoot threat towards the secular high at .8840 into latter March.
The 8-day RSI is positive, not overly OB, leaving scope to go higher.
WHAT CHANGES THIS?
Below .8520 eases bull risks; through .8440 signals a neutral tone, only shifting negative below .8345.
