New Zealand Dollar / US Dollar 05-21
I wrote yesterday that “a 261.8 extension is at 6480 and 6600 is potential support from a former pivot high. In summary, 6480-6600 is a support zone.” The low thus far has been 6620. There is resistance from former congestion / 38.2% retracement just below 6900. A rally to there would present a short opportunity. The level intersects with a channel line on Monday afternoon.
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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