NZD/USD at 200 DMA and 12 Month Trendline

By DailyFx | Updated August 05, 2014 AAA

DailyFX.com -

Daily

NZD/USD at 200 DMA and 12 Month Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-NZDUSD weakness from the July high is impulsive, which suggests that an important high is in place. 5 waves down also suggests that a rally attempt (albeit corrective) is due. The current level, defined by the 200 DMA and trendline support, is a good place for that rally attempt to take place.

--Tradingideas are availabletoJ.S. Trade Desk members.

Related Forex Analysis
  1. NZD/USD Forms a Nice Sell Signal
    Investing

    NZD/USD Forms a Nice Sell Signal

  2. Aussie and NZ Dollars Rise, Yen Drops as China Expands Stimulus
    Forex News

    Aussie and NZ Dollars Rise, Yen Drops as China Expands Stimulus

  3. NZD/USD Technical Analysis: Short Trade Triggered Sub-0.80
    Forex News

    NZD/USD Technical Analysis: Short Trade Triggered Sub-0.80

  4. NZD/USD Bears Hesitate As A Doji Emerges On The Daily
    Forex News

    NZD/USD Bears Hesitate As A Doji Emerges On The Daily

  5. NZD/USD Technical Analysis: Kiwi Selloff May Be Resuming
    Forex News

    NZD/USD Technical Analysis: Kiwi Selloff May Be Resuming

Trading Center