NZD/USD – Range Until it Takes out .7090

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-I wrote last update to “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.” Kiwi has turned up sharply so the recent low may be important. Strength through the latest high at .7090 would confirm. Until then, respect the near term range (see here for more).