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NZD/USD is a Sale on Strength

NZD/USD is a Sale on Strength

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD is a Sale on Strength

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-NZDUSD has broken the line that extends off of the August and 10/10 lows. Like AUDUSD, the advance from the YTD low forms converging lines which is consistent with a bear market rally.

Trading Strategy: Order to short NZDUSD in halves at .8350 and .8380 with a .8450 stop. Target half at .8100.

LEVELS: .8193 .8230 .8280 | .8350 .8380 .8435

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

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