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NZDUSD Nears Resistance from Last Week’s High at 8000

NZDUSD Nears Resistance from Last Week’s High at 8000

2012-07-16 22:20:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Nears Resistance from Last Week’s High at 8000

Prepared by Jamie Saettele, CMT

The NZDUSD is in the same situation as the AUDUSD. The bearish implications from RSI across time frames from weekly to hourly apply to the NZDUSD as well as the AUDUSD. 8000, which is defined by the 7/2, 7/3 lows and 7/11 high, is likely strong resistance if reached. Dropping below 7935 would restore confidence in the downside.

LEVELS: 7860 7935 7959 8000 8030 8075

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