NZD/USD .8635 is a Possible Reaction Level

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eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD .8635 is a Possible Reaction Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-NZDUSD has reversed from its best level since the month of the all-time high (August 2011…high was .8842). The last level of possible resistance from the high is .8760/90. A line that extends off of the 1996 and 2007 highs, and crosses through the 2008 and 2013 highs may have just called another top.

-The outside week reversal could indicate an important top. .8635 is near term resistance.

LEVELS: .8431 .8501 .8543 | .8635 .8674 .8760

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.


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