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NZD/USD Firm Rejection on a Trendine

NZD/USD Firm Rejection on a Trendine

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The underside of the 2016 trendline has been reached. I’m always on the lookout for former supports (whether horizontal or slope) to provide resistance and vice versa. Basically, be aware of potential for at least a pause in the move higher. NZD/USD slumped off of the mentioned trendline. Weakness under .7220 is needed in order to suggest a deeper setback.

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

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