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FOREX Technical Analysis: NZD/USD 8400 in Focus as Friday’s Rally Extends

FOREX Technical Analysis: NZD/USD 8400 in Focus as Friday’s Rally Extends

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Candles

FOREX_Technical_Analysis_NZDUSD_8400_in_Focus_as_Fridays_Rally_Extends__body_nzdusd.png, FOREX Technical Analysis: NZD/USD 8400 in Focus as Friday’s Rally Extends

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The NZDUSD false break higher in early December and subsequent impulsive decline has me intrigued in the short side to begin the year. A corrective advance may be underway from 8155, in which case a final foray into 8400 wouldn’t be out of the question.

FOREXTrading Strategy: Bigger picture shorts are favored against 8475 although the extent of the rally is nerve-wracking.

LEVELS: 8285 8316 8341 8396 8460 8476

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

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