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NZD/USD Fails to Make New High with AUDUSD

NZD/USD Fails to Make New High with AUDUSD

Jamie Saettele, CMT, Sr. Technical Strategist

Monthly

eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Fails to Make New High with AUDUSD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-NZDUSD spent much of the week above the line that extends off of the 2011 and 2013 highs but closed the week close to unchanged. The development could indicate a false break and therefore a top.

-Still, the drop from the top has found support from early March resistance. The development keeps the market pressured to the upside. .8500 is now a possible breakdown level.

LEVELS: .8391 .8431 .8532 | .8620 .8675 .8763

--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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