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NZD/USD Outside Day Reversal at Channel Resistance

NZD/USD Outside Day Reversal at Channel Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Outside Day Reversal at Channel Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: The NZDUSD traded above the 6/14 high of .8136 before running into channel resistance and reversing sharply. A failed inverse head and shoulders breakout is a possibility. Failed breakouts can serve as decent patterns in their own right.

FOREXTrading Strategy: Flat

LEVELS: .7933 .7994 .8028 .8105 .8135 .8210

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

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