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NZD/USD Fractal Shape is Present at Current Juncture

NZD/USD Fractal Shape is Present at Current Juncture

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Fractal Shape is Present at Current Juncture

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-NZDUSD is an intraday mess. Last Friday’s close remains uncovered at .8126 and is possible support if reached. The near term trend is best described as sideways following the failure of price to extend lower from .8200.

-.8240/75 may inspire a reaction that leads to a resumption of weakness that began in October. This fractal paints an interesting picture.

Trading Strategy: Flat

LEVELS: .8084 .8126 .8167 | .8242 .8275 .8308

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

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