NZD/USD Trades to a New Low; Time to Catch up with AUDUSD Drop?
4Hour
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-It’s worth noting an outside day reversal in AUDNZD today. NZD may face more pressure than AUD going forward.
-A 2 month head and shoulders top is confirmed. The pattern’s objective is .7840.
Trading Strategy: .8220 order never triggered…revised tactics are order to short .8150, stop .8215. Exceeding .8215 would suggest more ranging and possible a test of .8265 again.
LEVELS: .8075 .8103 .8139 | .8150 .8210 .8265
--- 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.
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