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NZD/USD at October Low; Pay attention to .7100 Area Too

NZD/USD at October Low; Pay attention to .7100 Area Too

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The dominant pattern on the NZD/USD chart remains the head and shoulders pattern. As such, focus is lower as long as price is above the latest swing high of .7238 (12/14 high).” Irrespective of general USD thoughts, the Kiwi chart is what it is so be aware of .7090-.7110 (former lows and 200 day average) as potential resistance.

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

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