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NZDUSD March Low is Now Resistance at 8060

NZDUSD March Low is Now Resistance at 8060

2012-06-19 23:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD March Low is Now Resistance at 8060

Prepared by Jamie Saettele, CMT

The NZDUSD continues to subdivide higher and is nearing a cluster of technical resistance from the March low, 61.8% retracement of decline from February high and trendline that extends off of 2012 highs. 7950 is short term support. Even a drop below the Monday low (7886) would still encounter support from the steep trendline (near 7810 Wednesday).

LEVELS: 7850 7885 7920 8000 8060 8100

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