NZD/USD ran into good resistance; back sub-0.74 by Milan Cutkovic

  • NZD/USD ran into decent tech resistance between 0.7420 and 0.7430
  • Upside momentum has waned as the USD remains bid across the board
  • Despite slightly less dovish RBNZ, NZD is likely to stay under pressure against the Greenback
  • First support seen at 0.7320, then not much until the 0.7200-20 area
  • I’m short NZD/USD from 0.7407 with a stop at 0.7450 and a target of 0.73 for a 1:2 RRR

NZD

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