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NZD/USD Channel Still of Interest below .6700

NZD/USD Channel Still of Interest below .6700

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD Channel Still of Interest below .6700

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I wrote previously that “NZD/USD has completed the reversal pattern so focus is higher.” NZD/USD has turned sharply lower, which eliminates the constructive bias. Short term channel support is just below .6700 over the next few trading days and could provide support. Weakness below there would shift focus to the November low at .6430.

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

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