New Zealand Dollar Takes out Prior 5 Days Highs and Lows
Prepared by Jamie Saettele, CMT
Recent commentary was that, “like the AUDUSD, a triangle may be forming from the 11/30 high (implications are the same). 7925 and 8000 become resistance on a triangle breakout.” The NZDUSD failed to reach the objectives, reversing at 7880 and quickly reaching the recent range low of 7722. Additional weakness targets 7650. Resistance is 7765 and 7800.
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