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NZDUSD Support at 8160 if Reached

NZDUSD Support at 8160 if Reached

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Support at 8160 if Reached

Prepared by Jamie Saettele, CMT

The impulsive nature of the rally from 8108 clarifies increases confidence that the NZDUSD is headed higher. Like the AUDUSD, expect stalling at resistance such as 8261 and 8298 but focus should be on a new high (8356) given the bullish momentum profile on the daily (RSI holding above 40 on the latest dip). Near term support is 8142/61.

LEVELS: 8108 8142 8161 8232 8261 8298

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