NZD/USD – Bigger Top or Just Consolidation?
Chart Prepared by Jamie Saettele, CMT
-I wrote previously that “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.” These comments remain valid although recent weakness raises the specter of a head and shoulders top since the July high.
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