It isn’t clear whether or not the NZDUSD will make it as high as 0.6985 next week. If it does, I’ll be on the lookout for a favorable selling opportunity. If it doesn’t, I will wait for a daily close below 0.6820, unless an entry materializes on the 4-hour chart.
A daily close at 5 pm EST below the 0.6820 handle would target the May 2016 low at 0.6675. Alternatively, a daily close back above the 0.6985 resistance area would turn our attention higher. Until that time, I’ll remain bearish the NZDUSD.