Forex Technical Analysis: NZDUSD Closes Beneath Trendline
Chart Prepared by Jamie Saettele, CMT
Forex Observations: The NZDUSD closed below the trendline that extends off of the June and September lows and reached the 23.6% extension of the decline from 8471 when extended from 8355.
Forex Trading Strategy Implications: Allowing for a rebound, expectations are for continued weakness. Former support is resistance at 8147.
LEVELS: 7946 8011 8080 8147 8188 8230
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.