New Zealand Dollar / US Dollar
240 Minute Bars
Prepared by Jamie Saettele
The NZDUSD is in a position similar to that of the AUDUSD. The pair met resistance from channel resistance and the 100% extension of the 6557-7164 rally (7400) so the top may be in place. Even in the event of a new high, strength should prove temporary.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson 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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