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NZD/USD – .7220s May Provide Resistance

NZD/USD – .7220s May Provide Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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.”

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

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