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NZD/USD .8280-.8380 is Possible Near Term Trading Range

NZD/USD .8280-.8380 is Possible Near Term Trading Range

2013-10-03 23:12:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD .8280-.8380 is Possible Near Term Trading Range

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The 161.8% expansion of the 8/19-8/30 decline at .8436 has so far marked the top.

-After dropping below the 9/25 low and into a 2 week low during the Asian session, NZDUSD spent the rest of the day rallying, completely retracing the move. I’m wondering if the advance composes wave C of a flat. Watch for resistance near .8380.

Trading Strategy: Flat

LEVELS: .8192 .8211 .8260 | .8350 .8376 .8435

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