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NZD/USD – A Low Here Wouldn’t Be Crazy

NZD/USD – A Low Here Wouldn’t Be Crazy

2017-04-11 19:27:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD – A Low Here Wouldn’t Be Crazy

Chart Prepared by Jamie Saettele, CMT

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-My previous NZD/USD thought was that “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.” This is still possible but consider a more immediate bullish outcome if Kiwi starts to make progress on the upside from the current level, which is defined by a parallel. Also, NZD/USD is above the March low despite the AUD/USD drop. This non-confirmation is typical at turns.

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