New Zealand Dollar Rally Fails at Channel Resistance
Prepared by Jamie Saettele, CMT
The NZDUSD is lagging the AUDUSD (the AUDUSD has broken its channel while the NZDUSD has reversed at its channel). The decline from 8107 is in 5 waves therefore the downside is favored on bounces. 8000/40 is now resistance.
Trend Strength (M,W,D) – 0, 0, 0
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