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NZD/USD Trades above August 2011 High

NZD/USD Trades above August 2011 High

2013-04-10 21:13:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Weekly Candles

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Trades above August 2011 High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The NZDUSD traded to the August 2011 high today. “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: .8420 .8475 .8535 .8600 .8675 .8842

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