NZD/USD Tightens Up; Beware False Breaks

DailyFX

Daily

View photo

.
eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Tightens Up; Beware False Breaks

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-NZDUSD has responded to a trendline confluence. The trendlines in question extend off of the October and January highs and August and November lows. The reaction is consistent with an important market turn.

-.8262 is resistance if reached.

LEVELS: .8254 .8279 .8302 | .8362 .8375 .8402

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)