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NZDUSD at Trendline Resistance

NZDUSD at Trendline Resistance

2012-07-02 20:59:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD at Trendline Resistance

Prepared by Jamie Saettele, CMT

Like the AUDUSD, the NZDUSD is back at levels not seen since early May. Resistance at the current level is defined by the March low and trendline that extends off of the February and April highs. Even a push above the trendline still contends with the 61.8% retracement of the decline from the February high at 8082 and 4/23 low at 8087. I’m on the lookout for a top and reversal.

LEVELS: 7920 7960 7995 8060 8100 8160

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