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Daily

NZD/USD Trendline is Near .6780

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).