NZDUSD approaching upward sloping trendline

July 24, 2014 by

NZDUSD is approaching an upward sloping trendline which comes in at 0.8565. Overnight we saw NZDUSD increase interest rates, but the market was expecting more indication as to nthe next rake hike. As a result, NZDUSD got sold off. Earlier in the month, we spoke about the key level at 0.8840 which held perfectly. Click here to read the post. With the USD looking like it still has room to the upside, a break of this line could be very big. Personally, I am using this line to buy NZDUSD.

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