In my post of last week I commented that traders should watch NZD this week as I expected weakness. NZD did not disappoint and provided some great set-ups during the week on GBPNZD/EURNZD and it closed below the 0.6820 support on Friday carving a new low for 2017. Traders can wait for a re-test of 0.6820 as new resistance and as long as this handle holds on a Daily basis, we can look to sell to 0.6675 support area with a Daily break below this level taking us to 0.6550 support zone. As always, we need to see NZD remain weak.

NZDUSD - NEW LOW FOR 2017

Source: MARYNA

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