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New Zealand Dollar Resistance at 7320

New Zealand Dollar Resistance at 7320

2011-03-17 13:04:00
Jsaettele,
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Resistance at 7320

Prepared by Jamie Saettele

The NZDUSD sliced through its corrective channel and 100% extension at 7193 yesterday before rebounding overnight. I do maintain that the larger trend is down but a sharp correction could reach as high as 7322 (former support). Price ideally remains below its latest pivot of 7455. A longer term (although who knows in these markets) objective is at 6800.

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