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NZD/USD Bounces after Dip into Former Highs

NZD/USD Bounces after Dip into Former Highs

2014-01-16 21:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Bounces after Dip into Former Highs

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-NZDUSD has responded to resistance above .8400. Tuesday’s high is just shy of the 9/19 and 10/24 highs at .8435/45.

-Longer term trend remains sideways, possibly within the confines of a triangle (since 2011). In general, the market has entered longer term resistance (highs in March 2012, December 2012, February 2013, and October 2013 are from .8471 to .8543).

LEVELS: .8202 .8250 .8316 | .8377 .8402 .8444

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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