NZD/USD's long-term downtrend is testing a make-or-break level at .6700

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    For any medium-term traders tracking NZD/USD, the kiwi has been rather dull of late. The pair has carved out a roughly 500-pip range from .6300 up to .6900 over the last eight months, and over the last week, rates have been essentially stationary in the middle of that range around .6650. At first glance, the technical bias is definitively neutral. However, traders must also be sure not to miss the long-term forest by focusing excessively on the near-term trees. Zooming out to the weekly chart

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