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NZD/USD Nears 2016 Trendline Support

Jamie Saettele, CMT

DailyFX.com -


NZD/USD Nears 2016 Trendline Support

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The Kiwi break below .7204 (8/29 low) shifts focus towards the January-May trendline. That line is near .7020 now. Weakness below there would expose the 200 day average and July low at .6951 (this is also near the short term head and shoulders objective). Only strength through .7204 would suggest that swing behavior is no longer bearish.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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