NZD/USD Trades into Trendline Support and Former Highs
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“NZDUSD took out last week’s high and has traded into the 2013 daily closing high”.
-“There are no more trendlines in play. The next chart level is the 2011 high at .8675, followed by .8760/90. Today’s low is probably useful as a pivot.” That low was broken so maybe a top is finally in place. For perspective, I am showing this long term chart. NZDUSD is trading into lofty territory. For a turn this big, a weekly key reversal or outside week (even better) would be a nice way to start lower.
LEVELS: .8391 .8438 .8494 | .8549 .8596 .8630
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.
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