NZD/USD Technical Analysis – Prices took out resistance at a falling trend line set from early April, exposing the 100% Fibonacci expansion at 0.8110. A break above that targets the 123.6% level at 0.8210. Near-term support is at 0.8010, the 76.4% Fib. A move below that aims for the 61.8% expansion at 0.7949.
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
- Finance Trading
- Basic Materials Industry
- Technical Analysis