The NZD/USd is sliding with the risk-off trading that has been giving the USD and JPY a boost. In the 4H chart We can see the market consolidating around the 61.8% retracement (of the 0.7468 to 0.8241 rally). The strength of the current swing, which started on the 11/9 Asian session matches the that of the 10/8 to 11/3 bear run so far. A measured move is therefore a conventional target projection, which points to 0.7558, let’s say 0.7560. A more conservative target could be the 0.7634, 78.6% retracement level, which is reinforced by the pivot established 10/4 to 10/6. The daily chart shows a market with very heavy ... (full story)