NZDUSD Nears 2012 Low at 7740
Prepared by Jamie Saettele, CMT
I’m looking towards the 2012 low at 7774 and late December pivot low at 7952. There is also trendline support (head and shoulders neckline) at about 7545 this week. 7905 is resistance and the most aggressive short term count is bearish against 7973.
Ideas: short into 7880-7940, stop 8000, target 7775 and 7660
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.