News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
NZD/USD Resistance is Stronger above .8200

NZD/USD Resistance is Stronger above .8200

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Resistance is Stronger above .8200

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: Friday’s NZDUSD drop was completely retraced today. Price faces resistance from the underside of a former channel but that resistance is probably minor at this point. Like the AUDUSD, the NZDUSD rally from the low may compose a 4th wave advance. The channel for 4th wave estimation (black) is a good deal higher now but crosses .8212 next Monday (6/10). A push through .8118 probably completes the first of 3 waves higher from the low.

FOREXTrading Strategy: Flat

LEVELS: .7938 .8002 .8049 .8124 .8162 .8212

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

DISCLOSURES