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NZD/USD Gets Nasty but Has Yet to Break Low

NZD/USD Gets Nasty but Has Yet to Break Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Gets Nasty but Has Yet to Break Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

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

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

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