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NZD/USD Daily RSI Profile a Storyteller

NZD/USD Daily RSI Profile a Storyteller

2013-08-22 00:23:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Daily RSI Profile a Storyteller

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: “The NZDUSD traded above the 6/14 high of .8136 on Monday 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.” 60 serving as resistance in a bear market is on full display in NZDUSD. Since April, each top has been very near 60. The implications are bearish.

FOREXTrading Strategy: Looking to sell strength above .7900

LEVELS: .7682 .7736 .7800 .7890 .7933 .8000

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