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NZD/USD Upside Momentum Still Lacking

NZD/USD Upside Momentum Still Lacking

2016-08-23 19:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD Upside Momentum Still Lacking

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).

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