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NZD/USD Trades Sharply Lower from Channel Line

NZD/USD Trades Sharply Lower from Channel Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD Trades Sharply Lower from Channel Line

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I wrote last update that “today’s move qualifies as a breakout and focus is therefore higher. .7455 (2012 low) is a level that could provide interim resistance. The new pivot is .7200.” Kiwi traded above .7455 on a closing basis on Wednesday before closing below. As noted, .7200 is the pivot. I’m using .7200 since it’s the most recent swing low (8/29 low is .7210).

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