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Buying NZD/USD on a Dip

Jamie Saettele, CMT

A flat correction appears to be unfolding from the 4/15 low. The implications are for the rally from the 4/23 low to exceed .8509 before the next leg lower. The 2/15 high is estimated resistance at .8533 along with the 4/12 low at .8546. In summary, looking to go long against .8350 for a run at .8530...then flip to short (maybe next week).

Also could see a run at 1.2800 in the EURUSD and pay attention to 1.0200 in AUDUSD. UK GDP may present a GBPUSD opportunity tomorrow.


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