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NZD/USD Trades above 200 Day Average

NZD/USD Trades above 200 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_usd-nzd_body_nzdusd.png, NZD/USD Trades above 200 Day Average

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-NZDUSD closed above the 200 day average for the first day since 5/10. Daily RSI has exceeded 70.

-A Fibonacci confluence is just above current price (.8283/98) from the 61.8% retracement of the .8846-.7372 bear leg ad 61.8% retracement of the decline from April. This area may serve as resistance.

Trading Strategy: Flat

LEVELS: .8090 .8133 .8189 | .8283/98 .8320 .8362

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

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