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NZDUSD Inside Day as Nothing is Resolved

NZDUSD Inside Day as Nothing is Resolved

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Inside Day as Nothing is Resolved

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. Resistance from December and the 100% extension of the 8471-8061 decline at 7878-7908 define the target area.” 7908 intersects channel support on 4/30. Near term resistance is 8190-8235.

Bottom Line (next 5 days) – lower

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

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