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NZD/USD Channel Resistance and 200 Day Average are Near .70

NZD/USD Channel Resistance and 200 Day Average are Near .70

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

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

-NZD/USD triggered a short term double bottom and blew through the target. Given the long term picture, dips should be bought. There probably isn’t solid resistance (as in a place that could cap the bird for at least several weeks or more) until near .70. .70 represents channel resistance and the 200 day average.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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