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NZDUSD Up Over 400 Pips in 7 Days

NZDUSD Up Over 400 Pips in 7 Days

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Up Over 400 Pips in 7 Days

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.” The count probably doesn’t seem that much of a stretch anymore. Like everything else, respect potential for some corrective action in the coming day(s), especially after tagging the 4/13 high. To give you an idea about how intense this rally is, the last 3 days’ lows and opens have been the exact same price. Since last Friday, the largest difference between the low and open is 10 pips. 8236 is now support.

LEVELS: 8133 8196 8236 8320 8470 8570

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