NZD/USD Trades into Trendline off of May and July Highs
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: The NZDUSD has been consolidating since June 11th. It’s impossible to know if the consolidation leads to a reversal or continuation of longer term weakness but based on the corrective rally from the June low, it’s best to favor the downside until proven wrong.
FOREXTrading Strategy: Pending short...wait and see if we get a Friday high to short.
LEVELS: .7735 .7818 .7933 .8053 .8105 .8136