NZDUSD Short Term Strength Considered Corrective
240 Minute Bars
Prepared by Jamie Saettele, CMT
The combination of price pattern since the late February top and key reversal on Friday warrants a bearish stance against 8320. 8230/50 remains short term resistance. Resistance from December and the 100% extension of the 8471-8061 decline at 7878-7908 define the target area.
Bottom Line (next 5 days) – lower
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