NZD/USD Dips into 20 Day Average
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The NZDUSD remains resilient on each dip. As long as price is above 8280, trend is considered constructive towards 8570. An upward sloping trendline intersects 8570 in 2 weeks. The January low at 8195 is the bearish pivot which leaves 8195-8280 as the ‘dead zone’. Those that trade in the ‘dead zone’ are subject to getting chopped up.
FOREXTrading Strategy: Flat
LEVELS: 8195 8280 8346 8479 8500 8571