NZD/USD – Rebounds from Well-Defined Horizontal Level
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-Recent updates 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.” Despite today’s rebound from a well-defined price point, focus remains lower to the October and December 2015 highs near .6900.
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