NZD/USD Tags Mid-November Low; Double Top Breakdown Attempt
Chart Prepared by Jamie Saettele, CMT
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-The last update noted that it was “decision time for NZD/USD. The cross is trading at the trendline that extends off of the late September and November lows. A downside break seems more likely than a hold given recent failure at the 200 day average and long term trendline. In the event of a break, focus for NZD/USD would be on new lows (below September).” The level gave way…focus is lower. A double top would confirm on weakness below .6429.
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