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NZD/USD Turns Up Now if it’s a Bull

NZD/USD Turns Up Now if it’s a Bull

2016-10-13 20:46:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD Turns Up Now if it’s a Bull

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-No change for NZD/USD other than noting that daily RSI is near 30. If the broader move is still higher then the rate probably turns higher while RSI maintains 30. “The Kiwi break below .7204 (8/29 low) shifts focus towards the January-May trendline. That line is near .7020 now. Weakness below there would expose the 200 day average and July low at .6951 (this is also near the short term head and shoulders objective). Strength through .7204 would suggest that swing behavior is no longer bearish.”

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

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