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NZD/USD Registers YTD Low; November Low is Next Hurdle

NZD/USD Registers YTD Low; November Low is Next Hurdle

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Registers YTD Low; November Low is Next Hurdle

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. The 1/14 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) but the break below .8200 turns near term trend lower. That level is now resistance.

LEVELS: .8011 .8084 .8104 | .8186 .8209 .8246

--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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