NZD/USD Trendline Break a Bear Trap?
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-.7200 remains the pivot. I’m using .7200 since it’s the most recent swing low (8/29 low is .7204). Weakness below would be viewed as an indication that price is headed for a test of the January-May trendline. Friday’s break below a shorter term support line and subsequent recovery warns of a bear trap.
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