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New Zealand Dollar Resistance Former Support Now Resistance at 7427

New Zealand Dollar Resistance Former Support Now Resistance at 7427

2011-03-21 14:39:00
Jsaettele,
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Resistance Former Support Now Resistance at 7427

Prepared by Jamie Saettele

The NZDUSD sliced through its corrective channel and 100% extension at 7193 last week before rebounding sharply. I do maintain that the larger trend is down but a sharp correction could reach as high former supports at 7427 and even 7505. 7250 is short term support.

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