NZDUSD - Cautiously Bearish

2020年6月9日

With prices reaching 4-month highs after gains of almost 3 ½ Big Figs through a sequence of 5 consecutive higher daily highs & lows last week, signals are bullish for this week. The bullish outlook is being proven correct as Monday posted the 6th higher daily high & low in a row, with further gains of over ½ Big Fig, exceeding last week's top at .6528 and reaching .6567. Further gains were posted in today's Asia session, prices reaching our 1st weekly target at .6581. However, prices are extended at the daily and intraday levels, and the first signs of bearish divergence in momentum have appeared. As such, the call is to sell just modestly at the open and then at yesterday's high at .6567 with a stop loss at .6600. Targets are to yesterday's low at .6505, the June 4th top at .6478, or even the June 3 top at .6444.