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NZD/USD Channel Break Portends a Dumping

NZD/USD Channel Break Portends a Dumping

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I wrote in the update that “recent weakness raises the specter of a head and shoulders top since the July high.” The break of the January-May trendline, combined with the head and shoulders top, indicates potential for Kiwi to drop below .6600.

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

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