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NZDUSD Rips Higher – Objectives above 8400

NZDUSD Rips Higher – Objectives above 8400

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Rips Higher – Objectives above 8400

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.