New Zealand Dollar / US Dollar 03-08
I wrote last week to “favor the downside against 7022. A move above there would probably give way to strength above 7088 and a test of 7156.” The NZDUSD has exceeded 7022 and short term support is 6940/80. Action since 7088 could also be a triangle.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to email@example.com.
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