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NZD/USD at Range Highs; Beware a False Break above .8334

NZD/USD at Range Highs; Beware a False Break above .8334

2014-01-07 22:35:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD at Range Highs; Beware a False Break above .8334

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-NZDUSD has rallied into the top of the range that has persisted since late Nov.

-.8390-.8445 remains a possible topping area if breaks through trendline resistance. The bottom of this zone is bolstered as resistance from the construction of a short term triangle.

Trading Bias: Flat

LEVELS: .8178 .8202 .8243 | .8300 .8334 .8380

--- 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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