Forex: NZD/USD Technical Analysis – Kiwi Flirts with 4-Month Resistance

DailyFX

NZD/USD Technical Analysis – Prices pulled back from resistance at a falling trend line set from early April to test the 23.6% Fibonacci expansion at 0.7958. A break beneath that targets the 38.2% level at 0.7897. Alternatively, a move above the trend line (now at 0.8011) targets the August 12 high at 0.8056.

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

View photo

.
dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Kiwi Flirts with 4-Month Resistance

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. 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)