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New Zealand Dollar Focus Now on 7665-7700

New Zealand Dollar Focus Now on 7665-7700

2011-03-30 15:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

TopHeadline_1_body_nzdusd.png, New Zealand Dollar Focus Now on 7665-7700

Prepared by Jamie Saettele

The NZDUSD is up 8 of the last 9 days and focus is no on 7655-7715. The lower end of this range is defined by the 2/18 high (2/4 low defends at 7665) and the upper end of the range by former trendline support from March 2009. The operative short term wave count is that of a double zigzag and the 2 zigzags would be equal at 7708. I favor shorting rallies into the mentioned resistance zone.

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