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NZDUSD 7675 in Focus

NZDUSD 7675 in Focus

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD 7675 in Focus

Prepared by Jamie Saettele, CMT

The strong reaction off of the December low is textbook. Like the AUDUSD, medium term traders should look for shorts near 7675 resistance. Short term traders may wish to trade higher towards that level with 7580 as support. “It’s best to keep the former base channels on your charts. The underside of these lines tends to act as resistance as time passes.”

LEVELS: 7370 7455 7580 7645 7675 7755 7820

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