New Zealand Dollar at Short Term Channel Resistance
60 Minute Bars
Prepared by Jamie Saettele, CMT
“The NZDUSD also reversed from the channel that defines the trend from the August top. Short term structure is identical to that of the AUDUSD (5 waves up from the low) and I therefore favor buying dips.” The NZDUSD hasn’t seen the advance that the AUDUSD has but the bias remains the same (buying dips). Currently testing resistance from a short term channel, expectations are for a pullback. Supports are 7680 and 7626.
Trend Strength (M,W,D) – 0, (1), (2)
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