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NZD/USD .6900 Remains a Big Level

NZD/USD .6900 Remains a Big Level

2016-06-02 22:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD .6900 Remains a Big Level

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.

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