NZDUSD Rally in Limbo after Late Day Reversal
60 Minute Bars
Prepared by Jamie Saettele, CMT
The NZDUSD rally from the low is corrective (3 waves) to this point, which leaves the door open for a test of the low (8099) in a 5th wave. Interim support comes in at 8200 but that level should give way easily if the suggested pattern is unfolding. Strength from the current level would test 8320. The preferred strategy is bearish.
Bottom Line (next 5 days) – down
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