NZD/USD Inside Month for September; Turning Process?
Chart Prepared by Jamie Saettele, CMT
-“The wedge objective has been reached as has the 2010 low at .6560. The next levels to be aware of are .64 (61.8% retracement of the 2009-2011 rally and 50% retracement of the 2000-2011 rally) and .60 (long term double top target).”
-A break above .6707 is needed to turn constructive on NZDUSD but a daily close above .6497 would be a positive development. .6477 is the 8/24 high volume close and .6497 is the July low (former support).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.