01 May 2012 06: 40 GMT
NZD/USD: The market has been locked in a sideways chop over the past several sessions to temporarily delay our bearish outlook. However, any rallies towards 0.8300 are viewed as a tremendous opportunity to look to establish fresh short positions in favor of underlying bear trend resumption. Look for renewed weakness and a break and closed back below 0.8055 over the coming sessions. Ultimately, only a close back above 0.8300 would give reason for concern.
NZD/USD: The market has been locked in a sideways chop over the past several sessions to temporarily delay our bearish outlook. However, any rallies towards 0.8300 are viewed as a tremendous opportunity to look to establish fresh short positions in favor of underlying bear trend resumption. Look for renewed weakness and a break and closed back below 0.8055 over the coming sessions. Ultimately, only a close back above 0.8300 would give reason for concern.
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