NZDUSD Extends To Swing Area And Stalls

Published date: .

The NZDUSD extended to a swing area at the 0.6532-395 area and stalled. The price moved above that area in June on June 8,9 and again on June 10th, but then reestablished the area in the 2nd half of the month.  If the price is to go higher -and move toward the June high ceiling at 0.65799-837. 

The pair remains below swing resistance at 0.6532-395

 

The fall from the high has moved back down toward the broken 61.8% of the range since the June 10 high at 0.65052. A lower trend line comes in at 0.65025.  Move back below that area, should see further downside corrective probing. Stay above and the trend higher remains in tact. 





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