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NZD/USD Smacked off of Short Term Channel Top

NZD/USD Smacked off of Short Term Channel Top

Jamie Saettele, CMT, Sr. Technical Strategist


NZD/USD Smacked off of Short Term Channel Top

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent NZD/USD comments noted that “channel resistance is near .7050 over the next few days.” NZD/USD has turned down sharply from the mentioned channel resistance (channel confluence actually). Near term channel support is roughly .6740/50 for the rest of the month. Weakness below there would shift focus to .6450.

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.