Forex: NZD/USD Technical Analysis – Support Tested Sub-0.78

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NZD/USD Technical Analysis

  • Prices are testing support in the 0.7758-83 area (rising trend line, 38.2% Fib expansion)
  • A break lower on a daily closing basis initially exposes the 50% level at 0.7666
  • Return above 0.7928 (23.6% Fib) exposes the 0.80 figure, triple top resistance at 0.8096

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dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Support Tested Sub-0.78

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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