NZDUSD Rips Higher – Objectives above 8400
240 Minute Bars
Prepared by Jamie Saettele, CMT
“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).” Price consolidated for several hours around 8283/87 before continuing higher during US hours. This level is now support and focus is on a Fibonacci confluences at 8402/18 and 8454/58. Keep in mind that the 2012 high is at 8471.
LEVELS: 8222 8255 8288 8353 8405 8450
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.