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NZD/USD Makes Minced Meat of Trendline; .8514 is Next

NZD/USD Makes Minced Meat of Trendline; .8514 is Next

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Makes Minced Meat of Trendline; .8514 is Next

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-.8450 was reached…and then left in the dust. The bird tested .8500 and pulled back as New Zealand markets came on line (as has been the trend for some time). .8514 is possible resistance. This feels like a blow off.

-Weakness below .8350 is needed to suggest that a tradable top is in place.

LEVELS: .8351 .8391 .8430 | .8514 .8555 .8585

--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.