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NZD/USD Trend is Sideways; Move Could Fail Wednesday

NZD/USD Trend is Sideways; Move Could Fail Wednesday

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Trend is Sideways; Move Could Fail Wednesday

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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.

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