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New Zealand Dollar Channel at 8255

New Zealand Dollar Channel at 8255

2012-02-09 23:39:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Channel at 8255

Prepared by Jamie Saettele, CMT

The long wick above yesterday’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 8255 Friday). The 20 day average is at 8202 as well.

Bottom Line – flat

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