NZD/USD at 3 Year Highs

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com -

Daily

NZD/USD at 3 Year Highs

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“A possible zone of resistance now is .8725/40 (161.8% extension and 5/6 close) but keep August 1st in mind, which is the date of the record free float high in 2011.” NZDUSD traded into the mentioned zone and responded but the pullback was minor and NZDUSD is trading pips from its best level since August 2011. Above .8842 (August 2011 high) would open up 2 equal legs from the 2000 low at .9208. The 6/25 outside day low is now the pivot a .8661.

LEVELS: .8661 .8704 .8759 | .8797 .8842 .8900

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    NZD/USD Retail Crowd Remains Net-Short Ahead of New Zealand 1Q CPI

  2. Forex News

    US Dollar SSI Flashes Broad Based Bear Signal

  3. Forex News

    NZD/USD Technical Analysis: Resistance Now at 0.77 Mark

  4. Forex News

    Trading Video: Choose Your Dollar View and Pair Wisely

  5. Forex News

    NZDUSD Breakout Stalls at 7700 Resistance- Short Scalps Pending

Trading Center