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NZD/USD .7696 is the Pivot

NZD/USD .7696 is the Pivot

2015-04-16 17:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD .7696 is the Pivot

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“NZDUSD traded to the 61.8% retracement of its 3 year range today (.7929) and the next level of interest probably isn’t until the 2013 Labor Day gap at .7722. One can’t help but notice that an epic double top is possible with a target of .5898. That would trigger on a drop below .7370.”

-Shorter term, a failed double bottom is possible. Failed patterns can serve as triggers in the other direction (in this case down). Exceeding .7696 would shift focus to the year open price at .7791.

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