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New Zealand Dollar at Support-Pivot is 7773

New Zealand Dollar at Support-Pivot is 7773

2012-01-12 19:57:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 MinuteBars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar at Support-Pivot is 7773

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

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