NZD/USD – Channel Support Rests Near .7060
Chart Prepared by Jamie Saettele, CMT
-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.
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