New Zealand Dollar Focus Remains on Mid 8100s
Prepared by Jamie Saettele, CMT
The NZDUSD is lagging the AUDUSD a bit but focus is still on the same trendline (off of the August and September highs), which isn’t until the mid 8100s. Mid September support at 8117 reinforces this level as one of interest next week. The rally from the low would consist of 2 equal legs at 8130 and the 61.8% retracement of the decline from 8571 is 8150. Bottom line, mid 8100 should be strong resistance.
Trend Strength (M,W,D) – 0, (1), 0
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