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NZD/USD Faces Resistance Up to About .6780

NZD/USD Faces Resistance Up to About .6780

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

NZD/USD Faces Resistance Up to About .6780

Chart Prepared by Jamie Saettele, CMT

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

-“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).”

-“NZDUSD has triggered a short term double bottom. The objective is .6675.” That objective was reached. Given the long term picture, dips should probably be bought at this point. Watch for support in the .6450-.6500 zone.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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