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NZD/USD 4th Day Up; Trades to Highest in Over 5 Months

NZD/USD 4th Day Up; Trades to Highest in Over 5 Months

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD 4th Day Up; Trades to Highest in Over 5 Months

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-NZDUSD spiked into the Sep high, negating short term bearish wave count implications in the process.

-78.6% retracement of the decline from the April high is at .8463 but the next big confluence is the 88.6% at .8562 / 4/20 high at .8585.

Trading Strategy: Stopped out of short.

LEVELS: .8310 .8350 .8380 | .8480 .8555 .8586

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

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