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NZDUSD 8000 Remains Resistance and 8075 is Still Key Level

NZDUSD 8000 Remains Resistance and 8075 is Still Key Level

2012-07-12 22:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 Minute Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD 8000 Remains Resistance and 8075 is Still Key Level

Prepared by Jamie Saettele, CMT

The NZDUSD is in the same situation as the AUDUSD. Price is so far holding the corrective channel from the top but that is not enough for me to abandon the bearish bias. Focus remains lower towards the 6/28 low 7840 and the 6/7 high at 7750. Risk can be moved down to 8000. The implications from RSI mentioned in the AUD section apply.

LEVELS: 7680 7750 7840 7920 7955 8000

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