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New Zealand Dollar Support at 8250

New Zealand Dollar Support at 8250

Jamie Saettele, CMT, Sr. Technical Strategist

DailyBars

eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Support at 8250

Prepared by Jamie Saettele, CMT

The long wick above today’s candle may signal the beginning of a corrective decline (4th wave) down to 8250. 8250 is former resistance (1/27 high) and Elliott channel support reinforces this level (at 8235 Thursday and 8254 on Friday).

Bottom Line – flat

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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NZD/USD
Bullish