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NZD/USD Still Holding above Low

NZD/USD Still Holding above Low

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_nzd-usd_1_body_nzdusd.png, NZD/USD Still Holding above Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: Expectations are for a rally in order to correct the 5 wave decline from the April high. The former 4th wave extreme near .8150 is a level to keep in mind as resistance. Near term support at .7750 held today and recent divergences with AUDUSD are suggestive of a turn higher.

FOREXTrading Strategy: Flat

LEVELS: .7650 .7682 .7749 .7870 .7968 .8030

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

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