Over the weekend I mentioned how the NZDUSD was likely gearing up for another run at ten-month channel support. I also commented on how last week’s close was marginally above the 0.7160 area, leaving some doubt as to how the pair would kick off the new week. While the pair is still treading water 50 pips above ascending channel support, what is now clear is that 0.7160 should indeed act as resistance going forward. But instead of simply rehashing what I covered just covered 24 hours ago, we’re going to deep dive into what the bigger picture holds for the NZDUSD. And while I believe the ten-month ascending channel ... (full story)