NZD/USD Gets Nasty but Has Yet to Break Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: Have been looking for a return to .8161-.8212 and that’s still possible. The NZDUSD is holding above its low while the AUDUSD has broken to new lows. This divergence is typical at turns. The decline from .8136 is slightly more than 2 equal legs at this point as well. New lows would target .7648.
FOREXTrading Strategy: Long triggered today at .7775, stop .7655, target .8210.
LEVELS: .7648 .7760 .7821 .7900 .7947 .8040