Forex: NZD/USD Technical Analysis – Topping Setup at Work

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Talking Points

  • Prices pulled back as expected after showing a Shooting Star candlestick
  • Initial support is at 0.8293 (50% Fib); a break below that targets 0.8149 (38.2% Fib)
  • Resistance is at 0.8437 (61.8% Fib expansion)

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dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Topping Setup at Work

Daily Chart - Created Using FXCM Marketscope 2.0

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

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