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NZDUSD Supported by former Resistance from 9/12 High

NZDUSD Supported by former Resistance from 9/12 High

2012-09-18 21:44:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Supported by former Resistance from 9/12 High

Prepared by Jamie Saettele, CMT

“A correction has taken place and I’m on the lookout for a low. Levels to keep in mind are the 9/12 high at 8236, the 100% extension of the decline from the top (2 equal legs from the high) at 8224, and the 9/11 high at 8194. Upside levels of interest for late September / early October are the 2012 high at 8470 and a cluster of levels near 8570.” A low may be in place at 8234. The NZDUSD continues to act better than the AUDUSD which is evident in AUDNZD price action.

LEVELS: 8133 8194 8236 8304 8353 8470

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