NZDUSD Holds Monday Low by Less than 1 Pip
60 Minute Bars
Prepared by Jamie Saettele, CMT
“If the NZDUSD fails to hold above Monday’s low (8183) then expect an elevator ride down to 8130/40 (23.6% of rally from June low, former pivot and 100% extension of decline from 9/21 high) and 8080.” The NZDUSD did hold the Monday low thus I’m inclined to look higher into month end. Expect a reaction at 8283/87 if reached (Tuesday high and 61.8% retracement of decline from the top). 8183 is obviously key to any bullish interpretation. The 8080-8133 comes into play if that level gives way.
LEVELS: 8183 8200 8229 8265 8283 8306
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.