News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
NZDUSD Still Lagging but Triangle Since June a Possibility

NZDUSD Still Lagging but Triangle Since June a Possibility

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Still Lagging but Triangle Since June a Possibility

Prepared by Jamie Saettele, CMT

It remains noteworthy that the AUDUSD has exceeded the May high while the NZDUSD remains within its range. Divergence between closely related assets is common at important turns (and covered extensively in these pages). Looking at the NZDUSD on its own however, one must consider a triangle (B wave?) from the 6/21 high. If a triangle is indeed unfolding, then the NZDUSD probably drifts sideways for several days before breaking above 8075 in a terminal thrust. Even a drop below Thursday’s low would be tolerated in a triangle. Wait and see. The trendline that extends off of the 2011 and 2012 highs comes in at about 8210 next week. The May high is at 8187.

LEVELS: 7920 7970 8000 8075 8120 8187

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

DISCLOSURES