FOREX Technical Analysis: NZD/USD Fibonacci Retracement is at 8271
Daily Bars
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The NZDUSD remains well above the latest swing low of 8155. The 61.8% retracement of the rally from that level was nearly reached today before most losses were retraced during the US session. Like the AUDUSD, I'd need to see a break below 8155 before trading from the short side.
FOREXTrading Strategy: Longs were stopped out at 8320. Stand aside for now.
LEVELS: 8155 8194 8271 8346 8393 8446
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The NZDUSD remains well above the latest swing low of 8155. The 61.8% retracement of the rally from that level was nearly reached today before most losses were retraced during the US session. Like the AUDUSD, I'd need to see a break below 8155 before trading from the short side.
FOREXTrading Strategy: Longs were stopped out at 8320. Stand aside for now.
LEVELS: 8155 8194 8271 8346 8393 8446
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