News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
NZDUSD Near Term Focus is on 8265/76 Resistance Zone

NZDUSD Near Term Focus is on 8265/76 Resistance Zone

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Near Term Focus is on 8265/76 Resistance Zone

Prepared by Jamie Saettele, CMT

It’s possible of course that a longer term top is in place but there are several reasons to look towards at least 8265/77 as long as price is above Monday’s low. First, the decline from the top is in 5 waves and suggests at least a 3 wave correction. Second and more importantly, price has failed to extend lower following Friday’s decline which raises the possibility of a false breakout. Anything constructive is negated on a drop below 8148 although bears would still have to contend with the 9/7 large range close at 8119.

LEVELS: 8001 8079 8148 8223 8264 8298

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES