New Zealand Dollar at Short Term Channel Resistance
Prepared by Jamie Saettele, CMT
Price is at channel resistance but potential remains for a test of 8240/80 (October high / 161.8% extension of the rally from the November low / 61.8% retracement of the decline from the 2011 high). As is the case with the other USD crosses, some consolidation is probably in order. 8120 is support.
Bottom Line – flat
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