NZDUSD Is In a Knot

07 Jul

This pair appears to be anchored in place.  The cross traveled in a 60 pip range before blasting lower 50 pips after Friday's NFP.  The fact that the cross has not fallen with risk could indicate a move higher is in the cards.  Support can now be found at the .618 Fibfrom the May lows at .7942.  A hold at this level and we could see a retest of resistance starting at .80 followed by .8060.

Sup   .7942

Res   .8060

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