New Zealand Dollar May See Support from 7500
240 Minute Bars
Prepared by Jamie Saettele
“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 and price has dropped below its January low. A recovery in a small 4th wave is expected soon towards 7562/86 (resistance does extend as high as 7615 however).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.