The Reserve Bank of New Zealand has a new governor (Article here Forex Live) news sends NZDUSD higher though Bears are watching confluence of MR1 and WR2 – hitting profit taking zones before London has even opened… Also, keep an eye on AUSUSD as NZDUSD gets to the top of the range. Remember, Bears are going to sell AUDUSD at WPP.

NZDUSD Daily

MR1/ 38.2% fib/ Daily 55 marks the top of the range. Stoch is bullish though a range is a range until it breaks. See H4 for more info.

NZDUSD H4

Confluence of MR1 with WR2. Hitting profit taking zones before London has even opened. Don't be surprised if price is back at the confluence of MPP and WPP by the end of the week. If you are a Bear you know what to do...

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