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NZD/USD Energy Building within Bull Trend

NZD/USD Energy Building within Bull Trend

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD Energy Building within Bull Trend

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to the NZD/USD outlook. “Kiwi has rebounded from a well-defined price point (.6960s) but remains below a very long term level (1985-1993 line) heading into RBNZ.” RBNZ came and went and the rate ended up testing that exact same line (from 1985) again! The long upper wick warns of a top but a breakout would set an objective near .7700 (measured move).

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.

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