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New Zealand Dollar Channel Resistance above 80

New Zealand Dollar Channel Resistance above 80

2012-01-10 23:46:00
Jamie Saettele, CMT, Sr. Technical Strategist
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DailyBars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Channel Resistance above 80

Prepared by Jamie Saettele, CMT

The NZDUSD extended gains from Monday and exceeded 7907, negating the previously held bearish bias. Focus is now on resistance from multiple channels, at 8030 and 8070 on Wednesday (former level is reinforced by 200 day average). Support is now 7908.

Bottom Line – flat

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