NZDUSD Chart Technical Outlook completed the AB=CD correction, but sellers to return
DXY (USD Index) – we have broken out of a triangle formation to the upside. The measure move target is 104.03. The projected AB leg for a Bat formation is located at 103.93. Although there is scope for mild intraday losses, I can see no technical reason for a change in this bullish trend.
NZD/USD – the intraday chart highlights the AB equals CD formation target of 0.6086 being achieved. However, looking out at the daily chart this correction is not at a significant zone. The next downside barrier is located at 0.6044. I would look for any intraday gains to be limited.
