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NZDUSD Takes out Monday High

NZDUSD Takes out Monday High

2012-03-13 23:10:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Takes out Monday High

Prepared by Jamie Saettele, CMT

The NZDUSD has taken out Monday’s high at 8200 which increases the probability that a low is in place for the week. Confidence in the upside is low as AUDUSD action is not confirming a bullish bias. Regardless, a cautious bullish bias is warranted against Monday’s low. 8320 is now resistance.

Bottom Line (next 5 days) – higher?

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