News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
NZD/USD Could Take out .8420 Before Reversing Lower

NZD/USD Could Take out .8420 Before Reversing Lower

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Could Take out .8420 Before Reversing Lower

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-The NZDUSD remains one of the more compelling longer term bearish possibilities. Consider that…

-The decline from the April high unfolded in 5 waves (impulsive), the advance from the August low is defined by converging lines (pennant, common in bear market advances) and action since 9/18 may compose a head and shoulders top.

-The near term advance is approaching a possible reversal point from the 11/6 high at .8414. .8414-/45 is of interest as resistance.

Trading Strategy: Nothing yet…I’m monitoring for setups on the short side from either slightly higher or below .8300.

LEVELS: .8220 .8265 .8329 | .8414 .8444 .8514

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