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NZD/USD Range Trade Still Dominant; .6575 of Interest Again?

NZD/USD Range Trade Still Dominant; .6575 of Interest Again?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The next directional move triggers on a break of the 1/20-2/29 trendline or a move through the October and December highs. A break above the mentioned highs would complete a 6+ month reversal pattern with target in the mid-.70s with interim resistance at .7175. The most recent failure just below the important highs does leave open the possibility of continued range action with possible support at .6575.

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.

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