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NZD/USD Could Try for .6900 Resistance

NZD/USD Could Try for .6900 Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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