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NZD/USD Below Trendline; Contending with 55 Day Average

NZD/USD Below Trendline; Contending with 55 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD Below Trendline; Contending with 55 Day Average

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 the mentioned figure would be viewed as an indication that price is headed for a test of the January-May trendline. It’s worth noting that weakness below .7200 would also mean that the 55 day average, which was support in July, has been broken.

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

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