NZD/USD Update – 21/09/2017 (11:20am) – by Arjun Lakhanpal

NZD/USD Update – 21/09/2017 (11:20am): While yesterday’s break above the short-term range action raises the risk of additional upside, note that the next line of key resistance has held in so far as the overall downside risks are intact. Again, the focus is now on the .7400/60 zone (61.8/76.4% retracements), with breaks above the latter implying a closer test of the .7559 July peak. Near-term pullbacks should find support at the .7345/05 levels now, while a break below this week’s .7248 low should reassert the downside bias.