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NZD/USD Channels Surround Record High at .8842

NZD/USD Channels Surround Record High at .8842

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD Channels Surround Record High at .8842

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“Don’t forget about the line that extends off of the 1996 and 2007 highs. That line crosses through the 2008, 2011, and highs as well. The rate has traded off of that level. In 2011 (record free float high), the rate surged through the line in late July before topping on August 1st.” That line on the chart is the dashed line and the rate is there now.

-Several channel resistance levels surround the record free float high at .8842.

LEVELS: .8668 .8705 .8730 | .8800 .8842 .8886

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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