Chart Of The Day: NZD/USD
Blake Morrow | Sep 21, 2020 05:59PM ET
The Kiwi has been in an ascending channel since June, grinding higher and finding buyers on dips. Over the last couple days NZD/USD found significant resistance at the .6800 level, and now will be focusing on support at the .6600 level. A break of .6600 would trigger a double top, and a measured move would be back to the .6400 level, which just so happens to be the 200 dma. The important thing to note should that happen is the ascending channel would be broken and NZD/USD would be in "sell rallies" mode.
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