New Zealand Dollar Bounces from August Pivot Low
300 Minute Bars
Prepared by Jamie Saettele, CMT
The NZDUSD is in the same situation as the AUDUSD. Price has bounced from the mid August pivot low. It is worth noting that a key reversal formed on the daily yesterday as well. Bears would do well to lighten up. As is the case with the AUDUSD, a larger NZDUSD correction (higher) may be underway.
Trend Strength (M,W,D) – 2, 0, 0
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 firstname.lastname@example.org.
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