New Zealand Dollar Pivot in Place at 7540
Prepared by Jamie Saettele, CMT
“A NZDUSD low appears to be in place at 7460 as the rally from 7460 reveals an impulsive structure. It is possible that a 2nd wave low is in place at 7540 which presents a bullish breakout opportunity on a move above 7645.” The NZDUSD was strong overnight before being turned back near the 12/9 high. Expectations are for additional strength over the next several weeks towards 8000. Near term support is 7650.
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