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NZD/USD Trades into Trendline off of 2011 and 2013 Highs

NZD/USD Trades into Trendline off of 2011 and 2013 Highs

2014-03-13 00:41:00
Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Trades into Trendline off of 2011 and 2013 Highs

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The bird is flying high. Recent action feels like a blow off, especially given how the rate traded into the line that extends off of the 2011 and 2013 highs on Thursday (closing near the day’s low).

-Weakness below .8430 would suggest that a top is in place.

LEVELS: .8390 .8430 .8511 | .8555 .8588 .8629

--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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