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NZD/USD .8380 and .8126 are Levels to Fade

January 28, 2014

Jamie Saettele, CMT

Daily Automate trades with Mirror Trader and see ideas on other USD crosses - NZDUSD has responded to resistance above .8400. The 1/14 high is just shy of the 9/19 and 10/24 highs at .8435/45. -Longer term trend remains sideways, possibly within the confines of a triangle (since 2011). In general, the market has entered longer term resistance (highs in March 2012 , December 2012 , February 2013 , and October 2013 are from .8471 to .8543). The pattern probably explains why NZDUSD isn't doing much at the moment. LEVELS: .8132 .8212 .8230 | .8277 .8302 .8345 --Trading specifics (setups with entries, stops, targets) are availableto J.S. Trade Desk members .


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Source: DailyFx


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