NZD/USD – .7220s May Provide Resistance
DailyFX.com -
Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-There is no change to daily NZD/USD comments as the market has treaded water for the last week other than noting that the .7220s lines up as a resistance level. “The reaction from the re-test of the breakdown level is what you want to see if you’re bearish but the impulsive nature of the advance from the 10/13 low suggests that the broader trend is still higher. Weakness below the January-May trendline is needed in order to eliminate a constructive bias.”
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.