New Zealand Dollar Stages Reversal at Important Channel
Prepared by Jamie Saettele, CMT
The NZDUSD also reversed from the channel that defines the trend from the top (to the pip). Short term structure is identical to that of the AUDUSD (5 waves up from the low) and I therefore favor buying dips – support is 7550. 7760 is a short term bullish objective.
Trend Strength (M,W,D) – 0, (1), (2)
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