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NZD/USD Reversing from Channel Resistance

NZD/USD Reversing from Channel Resistance

2016-06-14 19:20:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD Reversing from Channel Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“NZD/USD has erased most of the May drop in just the first week of June. Longer term, the area above .7100 is interesting. If NZD/USD trades up to that level and fails, then it’s possible that a wedge has formed from the 2015 low.” NZD/USD has turned down from channel resistance. Longer term resistance may still be near .7230. For more on Kiwi, watch this video.

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