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NZD/USD Wipes Out Last 5 Days’ High and Lows

NZD/USD Wipes Out Last 5 Days’ High and Lows

Jamie Saettele, CMT, Sr. Technical Strategist


NZD/USD Wipes Out Last 5 Days’ High and Lows

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Kiwi is testing the horizontal breakdown level (.7204, which is the 8/29 low). Weakness below shifts focus towards the January-May trendline. Weakness below .7204 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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.