New Zealand Dollar Testing Short Term Resistance Line
300 Minute Bars
Prepared by Jamie Saettele, CMT
The NZDUSD has bounced from the mid August pivot low. It is worth noting that a key reversal formed on the daily Monday and that the NZDUSD stayed above that low (divergence with the AUDUSD low). Currently testing short term trendline resistance, a push through would shift focus to the 20 day average at 8323 and 8381 pivot high.
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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