NZD/USD Below Trendline; Contending with 55 Day Average
Chart Prepared by Jamie Saettele, CMT
-.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.