Advertisement
Australia markets closed

  • ALL ORDS

    7,837.40
    -100.10 (-1.26%)
     

  • ASX 200

    7,575.90
    -107.10 (-1.39%)
     

  • AUD/USD

    0.6540
    +0.0017 (+0.26%)
     

  • OIL

    84.12
    +0.55 (+0.66%)
     

  • GOLD

    2,357.00
    +14.50 (+0.62%)
     

  • Bitcoin AUD

    98,573.41
    +373.55 (+0.38%)
     

  • CMC Crypto 200

    1,387.28
    -9.26 (-0.66%)
     

  • AUD/EUR

    0.6095
    +0.0022 (+0.36%)
     

  • AUD/NZD

    1.0976
    +0.0018 (+0.16%)
     

  • NZX 50

    11,805.09
    -141.34 (-1.18%)
     

  • NASDAQ

    17,430.50
    -96.30 (-0.55%)
     

  • FTSE

    8,129.08
    +50.22 (+0.62%)
     

  • Dow Jones

    38,085.80
    -375.12 (-0.98%)
     

  • DAX

    18,009.54
    +92.26 (+0.51%)
     

  • Hang Seng

    17,647.32
    +362.78 (+2.10%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

NZD/USD Erases Entire Breakdown

Jamie Saettele, CMT

DailyFX.com -

Daily

NZD/USD Erases Entire Breakdown
NZD/USD Erases Entire Breakdown

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “if the broader move is still higher then the rate probably turns higher while RSI maintains 30.” NZD/USD has wiped out last week’s decline and is currently testing the former support (in effect the breakdown area) at .7204/35. A reaction lower here wouldn’t surprise. The 10/4 high (bearish outside day) at .7310 is viewed as the invalidation level for swing shorts.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk


original source

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.