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NZD/USD .7100 Area is Well-Defined

NZD/USD .7100 Area is Well-Defined

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Kiwi has dropped sharply since reaching resistance in late January but is nearing a level that could provide support. The level in question is basically .7100. The 55 and 200 day averages cluster just above the figure as do several pivot lows in recent months.

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

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