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NZD/USD .8750 Viewed as Important Resistance

NZD/USD .8750 Viewed as Important Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD .8750 Viewed as Important Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“NZDUSD traded 7 pips shy of its August 2011 high last week. Above .8842 (August 2011 high) would open up 2 equal legs from the 2000 low at .9208. The pivot can be moved up from .8661 to .8713 (trend reverses below that level and a reversal from these levels would be substantial with price highs not confirmed by RSI).”

-The drop below .8713 warrants downside consideration. .8750 is resistance.

LEVELS: .8618 .8641 .8661 | .8723 .8749 .8779

--Tradingideas are availabletoJ.S. Trade Desk members.

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