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NZD/USD .8200 Break is Needed to Open Up Downside

NZD/USD .8200 Break is Needed to Open Up Downside

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD .8200 Break is Needed to Open Up Downside

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. Last 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 .8227 .8280 | .8342 .8360 .8377

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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