U.S. Markets open in 3 hrs 6 mins

NZD/USD .8275-.8310 May Prove Formidable

Jamie Saettele, CMT


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

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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.
Learn forex trading with a free practice account and trading charts from FXCM.