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NZD/USD Channel Break Portends a Dumping

NZD/USD Channel Break Portends a Dumping

2016-11-17 19:44:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD Channel Break Portends a Dumping

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.

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