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.
-Price traded to a new low for the month today (by 1 pip) before making a key reversal. As mentioned yesterday, this region is support for a bounce.
Trading Strategy: Same as AUDUSD…a corrective advance may begin from nearby levels (or now) in which case we’ll look to identify a secondary top (levels of interest include .8330/56 and .8415/35).
LEVELS: .8162 .8191 .8225 | .8285 .8330 .8356