New Zealand Dollar January Low in Jeopardy
240 Minute Bars
Prepared by Jamie Saettele
As mentioned in recent days “the dominant pattern in the NZDUSD is the 5 wave drop from 7975, which keeps me looking lower.” The decline from 7824 is unfolding in an impulsive manner as wave 3 within the 5 wave drop from that level may be nearing completion now. Potential support below 7524 is 7500. 7615 is near term resistance.
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