NZD/USD Biggest Test of Bull Move Since February

By DailyFx | August 07, 2014 AAA

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.

comments powered by Disqus
Related Forex Analysis
  1. British Pound Could Close Out Week with a Bang on UK GDP
    Forex News

    British Pound Could Close Out Week with a Bang on UK GDP

  2. NZD/USD Technical Analysis: Kiwi Down Trend Restarted
    Forex News

    NZD/USD Technical Analysis: Kiwi Down Trend Restarted

  3. NZD/USD Next Leg Lower Underway
    Forex News

    NZD/USD Next Leg Lower Underway

  4. US Dollar Looks like an Attractive Buy versus Euro, Sterling, Yen
    Forex News

    US Dollar Looks like an Attractive Buy versus Euro, Sterling, Yen

  5. New Zealand Dollar Targets Fresh Lows
    Forex News

    New Zealand Dollar Targets Fresh Lows

Trading Center