NZD/USD Pressing 2016 Channel Support
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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.