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NZD/USD .8585-.8630 is Resistance for a Turn

NZD/USD .8585-.8630 is Resistance for a Turn

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD .8585-.8630 is Resistance for a Turn

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 last Thursday (closing near the day’s low).

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

LEVELS: .8440 .8480 .8523 | .8588 .8629 .8675

--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.