NZDUSD Riding the Snake
2012
The current slow and wondering path of this pair reminds me of The Doors song, "The End". In that song Jim Morrison describes a cold and wondering snake that destroys anything that shows it fear. This pair current path seems to be a directionless journey through uncertainty. Enough of that, here are the details. The NZDUSD has bounced from the lows in Asian trading Wednesday around .8120 and appears to be attempting a rally towards the .82/.8235 area. Any move up to this level could find sellers. If the pair manages to break below the daily lows a move back down to consolidation support at .8060 could be in the cards.
Sup .8120 .8060
Res .8235
Keane Insight: Hasn't followed through with ascending trend line break. Could retest around .8235. AUD data could influence.
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