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New Zealand Dollar Resistance at 7615

New Zealand Dollar Resistance at 7615

2011-02-17 16:00:00
Jsaettele,
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240 Minute Bars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Resistance at 7615

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 towards 7615 before weakness resumes.

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