NZD/USD: Bearish outlook after AUD/NZD breaks higher
Again I’m on the sidelines here after failing to read this move correctly. The immediate break in AUD/NZD above important technical resistance between 1.1185/1.1220 is the driving factor and even though I’m overall a dip-buyer in NZD/USD, I think I’ll keep my ammunition dry for now. Lower levels towards .8225 certainly look possible. NZD/CAD is another pair which has taken a decisive bearish turn and this pair is also worth watching (rather than trading) as there are often big macro players at work here.