NZD/USD Ascending Triangle Breakout Attempt
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-NZD/USD may be about to make a move. The last update noted that “the next directional move triggers on a break of the 1/20-2/29 trendline or a move through the October and December highs.” The rate is just shy of the October and December highs and a break above would complete a 6+ month reversal pattern with target in the mid-.70s with an initial stop at .7175.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.