NZDUSD Clean Corrective Channel and Continuation Opportunity
240 Minute Bars
Prepared by Jamie Saettele, CMT
“The NZDUSD correction is well underway and I’m on the lookout for a low.” A low may be in place now as the NZDUSD found bottom Thursday at the confluence of congestion from 9/12 and 9/13, the 8/6 high (spike below), and corrective channel (a-b-c zigzag pattern). Price held the 10 day average as well, testing it for the first time since breaking above on 9/7. Exceeding 8302 would increase confidence that the next bull leg is underway towards 8470 and 8570. Near term support is 8265.
LEVELS: 8185 8223 8265 8304 8353 8470
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