New Zealand Dollar Testing Channel Resistance
Prepared by Jamie Saettele, CMT
The NZDUSD is lagging the AUDUSD (the AUDUSD has broken its channel while the NZDUSD is just now nearing its channel). The well defined channel from the August high is reinforced by former support at 8117. Coming under 7958 (thus creating overlap) would suggest that a top is in place. Until then, respect the upside.
Trend Strength (M,W,D) – 0, 0, 0
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