DailyFX.com -

Daily

NZD/USD Reaches Top Side of Former Resistance Line

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 warn of a rally attempt. Above .8430 is needed in order to suggest that at least a minor low is in place and that a move towards .8570-.8635 is underway. Until then, the market could drop into the .8250s.

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




Filed Under:
Forex pairs in this Article » NZD/USD

comments powered by Disqus