Goldman Sachs Techs: Adding to NZD/USD short

NZDUSD is on track to attaining a monthly close below the neckline of a very BIG double top (’11/’14). The neckline of the pattern is 0.7371. The LT target is all the way down at ~0.59. There’s little noteworthy congestion until 0.6561-0.6403 (May ’10 interim low, 61.8% of the ‘09/’11 rise). Overall, it looks like momentum has potential to accelerate quite quickly from here on forward. Adding bearish NZDUSD targeting the May. ‘10 low 0.6560 with a daily close stop above 0.7450 (just under the Jun. ’12 interim low).

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