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NZDUSD Near Term Objectives at 7840 and 7755

NZDUSD Near Term Objectives at 7840 and 7755

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Near Term Objectives at 7840 and 7755

Prepared by Jamie Saettele, CMT

The NZDUSD is in the same position as the AUDUSD; 5 waves down from 8075 suggest that the larger trend has reversed to the downside and the rally into 7987 may have completed a short term correction. Focus is lower towards the 6/28 low / 100% extension of the decline from 8075 at 7840 and the 6/7 high / 161.8% extension at 7750.

LEVELS: 7750 7840 7880 7960 7990 8030

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