NZD/USD .8240/60 of Interest for a Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-NZDUSD weakness from the July high is impulsive, which suggests that an important high is in place. 5 waves down also warn of a rally attempt. Above .8407 is needed in order to suggest that at least a minor low is in place and that a move towards .8570-.8635 is underway. Until then, the market could drop into the .8250s.
--Tradingideas are availabletoJ.S. Trade Desk members.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.