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NZDUSD Breaks Through Yearlong Trendline

NZDUSD Breaks Through Yearlong Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Breaks Through Yearlong Trendline

Prepared by Jamie Saettele, CMT

The NZDUSD continues to outperform the AUDUSD and Tuesday’s break above the yearlong trendline shifts focus to 8223, 8317 and perhaps much higher. The count above may seem a stretch but markets tend to go where few expect. Currently testing the 8/23 high, initial support is 8133. RBNZ is tomorrow.

LEVELS: 8050 8080 8133 8133 8186 8223

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

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