Forex: NZD/USD Technical Analysis – Neckline Above 0.82 Retested

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Talking Points

  • Breaking neckline support at 0.8214 (38.2% Fib) points to a Head & Shoulders top in place
  • Below 0.8113 (50% Fib) eyes 0.8011 (61.8% Fib); the H&S-implied target is at 0.7885
  • Reversing back above 0.8214 sees resistance in the 0.8382-0.8435 area (Sep 18-19 highs)

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dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Neckline Above 0.82 Retested

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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