NZD/USD Follows through on Reaction from Horizontal Level

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Kiwi has rebounded from a well-defined price point (.6960s…see highlighted area on the chart), which keeps near term focus higher. Given the overhead however (lows in late 2014 and early 2015), be aware of .7150/80 as a possible resistance level. .6900 is still viewed as a big level that could provoke a reaction.

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