NZD/USD .8555 and .8585 are Possible Reversal Points
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-NZDUSD is approaching a significant market level in .8585, the 4/12 close (that was a Friday and the market gapped down the next Monday, enduring the largest 1 day decline since 11/9/11), and 4/30 high.
-A near term change in trend would occur on a drop below .8370. Until then, focus is on.8585.
Trading Strategy: An inside day reversal setup has been succeeded by an outside day setup. Still, it’s all about price. Stay focused on .8555/85 as a possible reversal area. The short opportunity might come on a break of trendline support.
LEVELS: .8405 .8437 .8477 | .8555 .8585 .8630
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