A choppy start to the week so far for the NZD/USD as the pair has been caught in 100 pip range between .7650-.7550. Having recently dipped below 50% daily support near 7575, there may yet be a bit of room down to 61.8% fib support near .7520. An emerging bearish Gartley pattern on the 30min chart is projected to complete at 78.6% XA and 161.8% BC resistance near the top of this range, and points a solid sell opportunity if price manage to rally to .7626 while staying above point C near .7575. If so, a .7659 stop will be placed beyond the 161.8% ABCD extension as well as recently established resistance. The .7528 target sits just above 61.8% daily support.
FX360.COM
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