NZD/USD Firm Rejection on a Trendine
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NZD/USD Firm Rejection on a Trendine

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Chart Prepared by Jamie Saettele, CMT

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-The underside of the 2016 trendline has been reached. I'm always on the lookout for former supports (whether horizontal or slope) to provide resistance and vice versa. Basically, be aware of potential for at least a pause in the move higher. NZD/USD slumped off of the mentioned trendline. Weakness under .7220 is needed in order to suggest a deeper setback.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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