NZD/USD FOMC Rally is Just a Blip
Chart Prepared by Jamie Saettele, CMT
-FOMC brought NZD/USD some much needed relief but the immediate rejection at .7035 (October 2016 low) suggests that the path is still lower. Focus remains on the 2015-2016 trendline (below .6800). Ideally, the action at the trendline will help identify the significant of the rally from the 2015 low.
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