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1 Nov 2013
Elliott Wavers say NZD/USD destined for a fall to 0.8150
FXstreet.com (Barcelona) - The NZD/USD peaked at 0.8309 Thursday and has been in the early stages of a final wave lower for this five-wave sequence according to Elliott Wave technicians.
NZD/USD traders to focus on US data later on this session
The NZD/USD cross will be reacting primarily to news and data pushing the greenback around for the rest of the Friday session including several Fed Head speeches and US ISM Manufacturing PMI during US hours.
Technical outlook for NZD/USD
Elliott Wave technicians say NZD/USD is in the early stages of the fifth wave of a five wave sequence lower. The downside target for this wave is approximately 0.8150 using Elliott Wave measuring techniques. Resistance on a corrective bounce comes in at Thursday’s high of 0.8309.
NZD/USD traders to focus on US data later on this session
The NZD/USD cross will be reacting primarily to news and data pushing the greenback around for the rest of the Friday session including several Fed Head speeches and US ISM Manufacturing PMI during US hours.
Technical outlook for NZD/USD
Elliott Wave technicians say NZD/USD is in the early stages of the fifth wave of a five wave sequence lower. The downside target for this wave is approximately 0.8150 using Elliott Wave measuring techniques. Resistance on a corrective bounce comes in at Thursday’s high of 0.8309.