The Forex Pattern, Price & Time Report – NZD USD – Midsession

Weakness may be developing in the NZD USD.  Basically, all of thesupport is clustered between .6236 and .6122.  This cluster is acombination of two Main Bottoms and a retracement zone.

Weakness may be developing in the NZD USD.  Basically, all of the support is clustered between .6236 and .6122.  This cluster is a combination of two Main Bottoms and a retracement zone.

A failure to sustain Friday’s attempted breakout to the upside through .6467 was the first sign that the selling may be greater than the buying at current levels.

Should this pair rollover to the downside, look for the move to accelerate downward to the next major retracement zone at .5741 to .5541.