NZD/USD Needs to Clear .7330 to Indicate an Important Behavior Change

Daily

Chart Prepared by Jamie Saettele, CMT

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-“A wedge may be underway from the February low though. The bearish pattern would complete on a break below the support line from that pattern.” The wedge target is .6607.

-NZDUSD has rebounded from near 5 year lows. Recent congestion is now possible resistance from .7211 to .7270. A push above .7330 (former lows) would pique interest in a more important bottoming scenario.

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