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NZD/USD Trades into April Low

NZD/USD Trades into April Low

2013-09-18 00:56:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Weekly

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Trades into April Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-Remember when price broke the April lows on 5/10? NZDUSD is back to the April low and almost back to the 5/10 high (.8417).

-A Fibonacci confluence (.8283/98) from the 61.8% retracement of the .8846-.7372 bear leg ad 61.8% retracement of the decline from April proved no match. The 161.8% and 200% expansions of the 8/19-8/30 decline at .8436 and .8606 are of interest at this point.

Trading Strategy: Flat

LEVELS: .8205 .8247 .8317 | .8436 .8480 .8575

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

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