Morgan Stanley picks NZD/USD as its technical FX chart of the week, where MS is bearish with a fresh short position. MS provides the levels and targets, where traders should place their stops and targets for this trade. On long-term NZD/USD chart: "NZD/USD has begun to retrace its large decline from the high of 0.8844. We believe that the pair is currently in a (c)-wave, part of a larger b. For long-term trades would use a rebound to sell as the longer-term downtrend remains. We target 0.56 for the end of next year," MS projects. On 2-year NZD/USD chart: "We believe that NZDUSD is retracing part of its recent uptrend. ... (full story)