NZD/USD Trend is Sideways; Move Could Fail Wednesday
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-NZDUSD is best described as a short term (this month) uptrend within a longer term (since Sep) sideways trend that proves an important topping process.
-.8390-.8445 is a possible topping area this month. An uncovered close remains at .8126 and is possible support.
Trading Strategy: Might get an opportunity to short at mentioned zone. I am also watching EURNZD and GBPNZD for long entries.
LEVELS: .8100 .8132 .8206 | .8282 .8309 .8367
--- 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.