FOREX Technical Analysis: NZD/USD Inside Day Forms after 2012 High is Recorded
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: Monday’s inside day wasn’t the follow through that bulls were looking for after a 2012 high was registered Friday. Long time readers will know that I find inside days at key levels useful in trade construction. At the current juncture, weakness probably proves corrective (4th wave within rally from 11/16 low). Support is 8355/75.
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 8355 8390 8476 8572 8600