New Zealand Dollar Short Term Objective at 7612
60 Minute Bars
Prepared by Jamie Saettele
After slightly exceeding 7812 in what may prove to be a bull trap, the NZDUSD reversed and weakness has unfolded in impulsive fashion. Like the EURUSD, an acceleration of weakness in a 3rd wave is possible as long as price is below 7747. A pop above would probably complete a flat. A near term objective is 7612 (100% extension of 7824-7689 decline).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.