New Zealand Dollar Reaches Channel from July Top
Prepared by Jamie Saettele, CMT
The NZDUSD is also testing its channel that defines the trend from the top. The level is reinforced by a pivot from March at 7455. Like the AUDUSD, expect at minimum a bounce. 7570-7600 and 7640 are now resistance levels.
Trend Strength (M,W,D) – 0, (1), (2)
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market. Send requests to receive his reports via email to email@example.com and follow hom on Twitter @JamieSaettele.
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