On the NZDUSD daily chart, we can see that the pair has been rejected from a medium-term downside Pitchfork channel upper line 0.7300 level after briefly touching Nov. ’16 high 0.7370 level. The pair can now see 0.7060-0.7100 zone on the downside, as long as it is below 0.7250. Below 0.7060 this will not be seen as a corrective pullback, it will be medium term downtrend continuation.
Happy trading! (click on the chart to enlarge it)
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