NZD/USD Fractal Shape is Present at Current Juncture
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-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.