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NZD/USD Could Try for .6900 Resistance

NZD/USD Could Try for .6900 Resistance

2016-05-19 19:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD Could Try for .6900 Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent NZD/USD comments noted that “NZD/USD has broken channel support and re-tested the line as resistance so focus is towards .6450.” NZD/USD broke the mentioned channel support on 5/9, re-tested the level as resistance until 5/17 and traded lower until today’s rally. After all that, the rate is unchanged. Additional sideways trading and/or a run back to .6900 may be in store.

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

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