NZDUSD Creeps Towards 8080 Fibonacci Level

Daily Bars

Prepared by Jamie Saettele, CMT

Like the AUDUSD, the NZDUSD is at levels not seen since early May. Bulls must contend 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. Like the AUDUSD, the top may have been put in this morning with the key reversal on the 240 minute bar (9 am est).

LEVELS: 7920 7960 7995 8080 8100 8160