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NZD/USD Dips into 20 Day Average

NZD/USD Dips into 20 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, 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

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

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