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New Zealand Dollar Focus on 7190

New Zealand Dollar Focus on 7190

2011-03-15 14:36:00
Jsaettele,
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Focus on 7190

Prepared by Jamie Saettele

The NZDUSD has broken lower and is at its lowest level since late September. The drop below 7342 makes a strong case that the NZDUSD completed wave b of a flat in late 2010 and is headed for an eventual drop below 6560. A 100% extension at 7191 remains a near term objective. I favor moving risk to the latest pivot high of 7455. 7340/60 is resistance.

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