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Jamie's Pick: 12/20/11

Jamie's Pick: 12/20/11

2011-12-20 15:59:00
Jamie Saettele, CMT, Sr. Technical Strategist
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“A NZDUSD low appears to be in place at 7460 as the rally from 7460 reveals an impulsive structure. It is possible that a 2nd wave low is in place at 7540 which presents a bullish breakout opportunity on a move above 7645.” The NZDUSD has rocketed higher and expectations are for additional strength over the next several weeks towards 8000. Interim resistance on the way up is 7760. Near term supports are 7660 and 7630.

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