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NZDUSD Lagging and Anchored to 8000

NZDUSD Lagging and Anchored to 8000

2012-07-18 20:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Lagging and Anchored to 8000

Prepared by Jamie Saettele, CMT

“The NZDUSD is at the midpoint of its July range, which is defined by 8075 and 7860. Until one of these levels gives way, there is little reason to force the issue. In fact, in this low volatility environment, the NZDUSD may spend a good amount of time within the mentioned range. 8030 and 7915 are levels of interest within the range.” It’s noteworthy that the AUDUSD has pushed to its highest level since May 1 while the NZDUSD remains within its range. Divergence between closely related assets is common at important turns (and covered extensively in these pages)

LEVELS: 7840 7860 7925 8030 8075 8120

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