The Kiwi has been in an ascending channel since June, grinding higher and finding buyers on dips. Over the last couple days the 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 aand a measured move would be back to the .6400 level which just so happens to be the 200dma. The important thing to note should that happen is the ascending channel would be broken and the NZD/USD would be in “sell rallies” mode.
