Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The NZDUSD continues to trade near multiyear highs. The latest dip, from 8460, is in 3 waves and suggests that the trend is bullish. As long as price is above the terminus of that 3 wave pattern (8323), I see no reason to fight strength.
FOREXTrading Strategy: Longs were taken Friday. Like the AUDUSD, last week’s low (in this case Thursday’s low) now serves as the pivot.
LEVELS: 8323 8360 8391 8476 8571 8600