NZD/USD – .7220s May Provide Resistance
Chart Prepared by Jamie Saettele, CMT
-There is no change to daily NZD/USD comments as the market has treaded water for the last week other than noting that the .7220s lines up as a resistance level. “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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