NZD/USD Faces Resistance Until .7300

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Since dropping sharply from well-defined resistance, Kiwi has bounced although from above the level I had as support (.7100…the 55 and 200 day averages cluster just above the figure as do several pivot lows in recent months). The rebound contends with resistance from the December (FOMC) high now (.7238). In the event of continued strength, pay attention to .7300/10 (closing high level and February open).