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New Zealand Dollar 20 Day Average Reverses Decline

New Zealand Dollar 20 Day Average Reverses Decline

2011-12-09 16:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar 20 Day Average Reverses Decline

Prepared by Jamie Saettele, CMT

The near term NZDUSD pattern is the exact same as the AUDUSD in that both made daily key reversals yesterday and held their 20 day averages overnight. 7760/90 is now resistance. Downside levels of interest are 7575 and the November low at 7370. Exceeding 7875 would expose the trendline that extends off of the August and October highs.

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