DailyFX.com -

Daily

NZD/USD Biggest Test of Bull Move Since February

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 warns of a rally attempt. The current level, defined by the 200 DMA and trendline support, is a good place for that rally attempt to take place. Above .8500 is needed in order to suggest that at least a minor low is in place.

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

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    NZD/USD Technical Analysis: Kiwi Slumps to 5-Year Low

  2. Forex News

    Trading Video: Greece Panic Eases as IMF Payment in Arrears, Risk Still Stalking

  3. Forex News

    NZD/USD at a Familiar Downtrend Line

  4. Forex News

    US Dollar May Break to Further Lows if it Fails at Key Support

  5. Forex News

    NZDUSD Trades to 2015 Lows

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!