Kiwi Searching for Wings, Testing Range Resistance

March 18, 2016

Kiwi Testing Range Resistance, Searching for Wings:
NZDUSD saw a big boost following the FOMC rate decision mid week and bears found no respite Thursday. Pair is currently testing range resistance which has capped gains for over 5 months.

NZDUSD Daily:
kiwi_daily_zoomed_out

Initial resistance is the range top at .6868, a break above there would target the 50% retracement at .6958. Initial support is the 38.2 Fib at .6763, with a break below there targeting the range bottom at 6565.

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Oscar Goullet – @FXtechs

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