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NZD/USD Stuck Between a Rock and a Hard Place

NZD/USD Stuck Between a Rock and a Hard Place

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD Stuck Between a Rock and a Hard Place

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The reaction from the re-test of the breakdown level is what you want to see if you’re bearish but the impulsive nature of the advance from the 10/13 low suggests that the broader trend is still higher. Weakness below the January-May trendline is needed in order to eliminate a constructive bias.

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.

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