New Zealand Dollar at Support-Pivot is 7773

240 MinuteBars

Prepared by Jamie Saettele, CMT

Today’s dip should be viewed as just that – a dip. The NZDUSD is firm when viewed in a broader light and near term focus remains on channel resistance and the 200 day average at 8030. Today’s weakness presents 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