NZD/USD Divergence with AUD/USD Evident at Lows
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: The NZDUSD continues to chop sideways but the inability of price to make a new low with the AUDUSD on 6/28 and today is action typical at turns. However, the longer that the AUDUSD and NZDUSD fail to ‘rip higher’, the more I’m considering a triangle in NZDUSD. The implications in the event of a triangle are for a final low (maybe on NFP and maybe into .7650). “.7649 is the 78.6% retracement of the rally from the November 2011 low.”
FOREXTrading Strategy: Flat
LEVELS: .7649 .7682 .7749 .7806 .7860 .7898