New Zealand Dollar Reaches Resistance at 7500
60 Minute Bars
Prepared by Jamie Saettele
I maintain that the larger trend is down but the next several weeks should present trade opportunities from both sides. Near term, the rally from 7114 is in 5 waves (like the AUDUSD) so expectations are for weakness down to at least 7375 (former 4th wave extreme). Interim support is at 7446. Additional strength would target a former pivot high and 61.8% retracement at 7554.
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