NZD crosses are falling in tandem which suggests broader weakness awaits. NZD/USD remains in a clear downtrend, and the retracement from the 0.6269 low appears to have had its day. The correction failed to retest the 38.2% Fibonacci level and, after a few days of consolidation, printed a bearish pinbar which was also a bearish outside day. Bearish momentum is clearly back with prices back beneath the 2016 low. The bias is for a re-test of 0.6294 and break lower, whist 0.6451 holds as resistance. NZD/JPY is sensitive to risk appetite, although it may have topped without risk-off being required. For example, USD/JPY ... (full story)