Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

NZD/USD Old Resistance Line Provides Support

Published 08/14/2015, 03:35 AM
Updated 07/09/2023, 06:31 AM
NZD/USD
-

Daily

NZD/USD Old Resistance Line Provides Support

Chart Prepared by Jamie Saettele, CMT

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

-“The wedge objective has been reached as has the 2010 low at .6560. The next levels to be aware of are .64 (61.8% retracement of the 2009-2011 rally and 50% retracement of the 2000-2011 rally) and .60 (long term double top target).”

-“NZDUSD made a trend low on 8/5. The closing low (which must be used when comparing with momentum indicators) was less than the 7/16 closing low by about a pip. Point is…there was a new closing low. At the same time, the 8/5 RSI reading was 34. Divergence is worth paying attention to when RSI is above 30 (at lows) or below 70 (at highs). A new low could see support near .6400 (long term Fibonacci confluence).” A break above .6650 would trigger a bullish bias.

Original post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.