Forex: NZD/USD Technical Analysis – Trend Line Resistance Holds

DailyFX

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • A Shooting Star candle at falling trend line resistance hints a move lower is ahead
  • Support is at0.8214 (38.2% Fib ret.); a close below that confirms a Head & Shoulders top
  • Breaking above the trend line (0.8326) aims to for the 0.8382-0.8435area (Sep 18-19 highs)

Confirm your chart-based trade setups with the Technical Analyzer.

View photo

.
dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Trend Line Resistance Holds

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

New to FX? START HERE

For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)