-
NZD/USD: Starting Down or Bullish Backtest?
The timing surrounding the mid-November low in NZD/USD was pretty significant as it marked a nice confluence of several key cyclical relationships. The highlights include a 1,570 calendar day Armstrong Pi cycle from the 2011 post float all-time high, the 38% retracement in time of last year’s January to August decline as well as the 38% retracement of the time elapsed between the 2Q high close and the 2015 low close. The rally that followed was fairly significant as the exchange rate recovered more than 7% from low to high before selling off aggressively these past couple of weeks. The big question now: Was the 7% ... (full story)
