Over the weekend I commented on how the NZDUSD was likely to attract offers at 0.6920/30. This area represents former descending channel support that extends from the October low at 0.7034. So far today’s high is 0.6929, and the pair is off that mark by 27 pips at the time of this writing. While there’s still plenty of time left in the session, it would appear that sellers are holding their ground. This comes after the pair slipped below channel support on December 19th. As long as sellers hold prices below 0.6930 on a daily closing basis, my bearish bias will remain. The next level of support comes in at 0.6840. ... (full story)