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New Zealand Dollar Focus on Channel Line Near 9000

New Zealand Dollar Focus on Channel Line Near 9000

2011-07-19 14:59:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Weekly Bars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Focus on Channel Line Near 9000

Prepared by Jamie Saettele, CMT

Forget the signs that the NZDUSD was topping as price has soared to yet another free floating era high. Focus is now on the channel resistance line which crosses 9000 over the next few weeks. Short term support comes in at 8500/20.

Trend Strength (M,W,D) – 2, 2, 2

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Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market.  Send requests to receive his reports via email to jsaettele@dailyfx.com.

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