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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE