EUR/NZD – Support break should continue down

Note: Gov Lowe speaks this PM

Bearish:  We are currently @ 1.7611 in the channel.   With the support break, we are looking for a continuation to the 1.000 Fibo/ATR target @ 1.7500 with the overall target the 2.618 Fibo @ 1.7169.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 141 pips per day and it’s 180 day average is 168 pips per day. USDX is currently moving up.