NZD/USD .8275-.8310 May Prove Formidable

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eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD .8275-.8310 May Prove Formidable

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-NZDUSD extended gains and Friday’s close remains uncovered at .8132. The near term trends is best described as sideways following the failure of price to extend lower from the head and shoulders break.

-.8275-.8310 may inspire a reaction that leads to a resumption of weakness that began in October.

Trading Strategy: Flat

LEVELS: .8132 .8155 .8223 | .8275 .8308 .8340

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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