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NZD/USD Trendline is Near .6780

NZD/USD Trendline is Near .6780

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-I thought that “NZD/USD might be trading in a triangle from the March low (circled). The implication would be for a bit more sideways trading before a break to the downside that proves false (moves from triangles are often associated with terminal moves).” No triangle…Kiwi simply broke down. Pay attention to the 2015-2016 trendline near .6780. Strength through the latest high at .7090 is needed in order to suggest something bullish (see here for more).

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

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