NZD/USD: Murray levels analysis
D1. It seems the level of 4/8(0.8301) can be a serious obstacle for the bears, judging by the fact that they have consistently failed to break below it. Therefore, we consider the most likely the scenario of a rebound from 4/8to 5/8(0.8423), and in case of breakdown of the latter – to CTW1.
H4. Stop at the level of 0/8 (0.8301) in the near future may lead to the correction of the pair to the area STD1. Break below 0/8 and fixing below this level will signal the fall to -2/8 (0.8180). For now the recoil to the level of 7/8(0.8362) and STD1 looks more likely.