NZD/USD Trades to Highest Since September 2011
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The NZDUSD traded to its highest level since September 2011. It’s still possible that the rally from the 2011 low at .7370 which is why it’s important to keep an eye on corrective channel resistance going forward. That level crosses the upper .8500s over the next few weeks. The August 31, 2011 high is at .8571. .8675 is the 88.7% (little known Fibonacci level).
FOREXTrading Strategy: Flat
LEVELS: .8360 .8420 .8475 .8572 .8675 .8842
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.