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23 Sep 2013
Elliott Wavers say its 4th wave correction time for NZD/USD – support 0.8244
FXstreet.com (Barcelona) - The NZD/USD may be in the midst of a fourth wave correction say most Elliott Wave technicians. The cross got a lift from Chinese data but is on the verge of giving all those gains back.
NZD/USD traders to focus on US data Monday – now that Chinese data have come and gone
NZD/USD traders are digesting the HSBC data from China currently as described above. Later Monday, though, their attention will turn to US data including purchasing managers’ index data, the US Chicago Fed Survey and speeches by Fed heads Lockhart and Dudley.
Technical outlook for NZD/USD
Elliott Wave technicians say the obvious resistance for NZD/USD is at the 3rd wave peak at 0.8399 on a closing basis. They say a consolidation / pullback down to 0.8244 – the 23.6% Fibonacci retracement of the rally that has taken place this month – is likely now.
NZD/USD traders to focus on US data Monday – now that Chinese data have come and gone
NZD/USD traders are digesting the HSBC data from China currently as described above. Later Monday, though, their attention will turn to US data including purchasing managers’ index data, the US Chicago Fed Survey and speeches by Fed heads Lockhart and Dudley.
Technical outlook for NZD/USD
Elliott Wave technicians say the obvious resistance for NZD/USD is at the 3rd wave peak at 0.8399 on a closing basis. They say a consolidation / pullback down to 0.8244 – the 23.6% Fibonacci retracement of the rally that has taken place this month – is likely now.