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NZD/USD Reverses; Pay Attention to .6900

NZD/USD Reverses; Pay Attention to .6900

Jamie Saettele, CMT, Sr. Technical Strategist


NZD/USD Reverses; Pay Attention to .6900

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “Kiwi broke out on the 12th but that advance has been erased. As such, the move is viewed as a false breakout and potentially bearish signal. Divergence with RSI is viewed in a negative light as well.” Kiwi has dropped sharply and focus is on the October and December 2015 highs near .6900.

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.