NZD/USD at Line that Extends off of April and August Highs
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-The larger trend is probably down as per the 3 wave advance from the June low.
-Price has reached the line that extends off of the April and August highs as well as the 8/19 reversal day close.
Trading Strategy: Most recent comment was “Watching AUDUSD to exceed its August high while NZDUSD fails to exceed its August high to trigger the next big sell signal.” Divergence is in place between the 2 rates as long as NZDUSD is below the August high. I am bearish against that level.
LEVELS: .7927 .7960 .8021 | .8066 .8111 .8162
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.