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New Zealand Dollar Trendline and 200 day Average at 8030

New Zealand Dollar Trendline and 200 day Average at 8030

2012-01-11 00:02:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 MinuteBars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Trendline and 200 day Average at 8030

Prepared by Jamie Saettele, CMT

The NZDUSD remains firm and near term focus remains on channel resistance and the 200 day average at 8030. Weakness below 7924 would present an opportunity to get long against 7773 (1/6 low) in anticipation of an eventual move above 8000 (although risk of a reversal increases above 80). 7890-7910 is support.

Bottom Line – flat

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