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New Zealand Dollar to Fresh 2011 Low

New Zealand Dollar to Fresh 2011 Low

2011-02-22 15:57:00
Jsaettele,
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar to Fresh 2011 Low

Prepared by Jamie Saettele

The NZDUSD has traded to a fresh 2011 low and is again below its 50 day average. A drop below 7342 is needed in order to confirm that the NZDUSD completed wave b of a flat in late 2010. Until then, bullish potential does remain with the setback from 7975 serving as consolidation.

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