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NZD/USD Pressing the Issue on Long Term Resistance

NZD/USD Pressing the Issue on Long Term Resistance

2016-07-07 20:23:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD Pressing the Issue on Long Term Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The NZD/USD rally has failed multiple times at former support from 2015 (and the June 2015 high at .7230). Kiwi is back at the level for the 3rd time in 3 weeks so be aware of breakout potential. A breakout would target the .7500 area. The 50% retracement of the decline from 2014 is .7520 while the 2005 high and 2012 low are near .7465.

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

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