Note: Gov Lowe speaks this PM
Bearish: EUR/NZD is currently at 1.7611 in the channel. With the support break, we are looking for a continuation to the 1.000 Fibo/ATR target at 1.7500 with an overall target the 2.618 Fibo at 1.7169.
Watch the USDX for direction. The average daily true range (ATR) for the pair is 141 pips per day and it’s 180 day average is 168 pips per day. USDX is currently moving up.
