NZDUSD Pressing against Sunday Night High
Prepared by Jamie Saettele, CMT
“Former base channels in downtrends often act as resistance once broken. As is the case across the board, a stronger USD is favored towards Friday lows and early month range.” 7595-7620 is of particular interest for the NZDUSD if price can roll over from here. Even in the event that Sunday’s night high doesn’t hold, resistance is still present from the Elliott channel (just above Sunday’s high) and bottom of mid-May congestion at 7810.
LEVELS: 7620 7670 7725 7785 7810 7905
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