FOREX Technical Analysis: NZDUSD Reverses Intraday
Chart Prepared by Jamie Saettele, CMT
FOREXObservations: The NZDUSD reversed intraday after trading to 8242. The NZDUSD has traded between 8100 and 8230 for most of October. The high for the month remains day 2 of October and the next most probable time of the month for a price extreme (in this case a low) is the end of the month. That does not dismiss a test of 8260 or even 8300 however.
FOREXTrading Strategy Implications: Market risk is lower after Thursday’s reversal but against the October high (8337).
LEVELS: 8080 8100 8138 8217 8265 8298