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The USD has moved sharply to the upside on Friday after the NFP report, but moves were not so significant against some majors. EUR/USD for example is still above the 1.3290 low while AUDUSD and some other commodity currencies seems to be much weaker.

Today, we are looking at NZDUSD that seems to be bearish for wave E) to complete a weekly triangle. So if wave E) is going lower, then the short term opportunities could be on lower time frames. On the 4h chart for example we see five waves down and three up to 0.8413 where the rally looks completed after a recent broken trend line that is now pointing for a decline to a new low and possibly even to 0.8100 in this week. Any taken shorts on this pair should have stops above 0.8400.

nzdusd weekly Elliott Wave Technical chart analysis for currency trading forex kiwi dollar

 

nzdusd 4h Elliott Wave Technical Graph analysis for currency trading forex kiwi dollar