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New Zealand Dollar Breaks from a Bullish Pattern

By Jamie Saettele, CMT, Sr. Technical Strategist
03 September 2010 14:37 GMT

60 Minute Bars

eliottWaves_aud-usd_body_100903_085234_CQG_IC_Screen.png, New Zealand Dollar Breaks from a Bullish Pattern

Prepared by Jamie Saettele

The NZDUSD has broken through its neckline from the short term inverse head and shoulders and has reached the 61.8% retracement of the decline from 7400. Resistance extends to 7250. Near term studies are overbought and warn of a pullback…support begins at 7130.

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03 September 2010 14:37 GMT