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FOREX Technical Analysis: NZD/USD 8355 Breakout Level is Now Support

FOREX Technical Analysis: NZD/USD 8355 Breakout Level is Now Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_NZDUSD_8355_Breakout_Level_is_Now_Support_body_nzdusd.png, FOREX Technical Analysis: NZD/USD 8355 Breakout Level is Now Support

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The NZDUSD reversed 18 pips shy of its 2012 high, made on 2/29, at 8471. “Focus throughout December remains higher towards the extremely well-defined technical confluence that surrounds 8550. 8308/55 is support to keep in mind for buying a dip.”

FOREXTrading Strategy: Price is probably close to at least a drop into former resistance at 8355. I’ll be looking for the drop to unfold in a corrective manner.

LEVELS: 8309 8348 8400 8472 8572 8600

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

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