NZD/USD Attempts to Reclaim the 0.85 Level

DailyFX

NZD/USD Technical Strategy: Flat

Prices are bouncing from support at 0.8387, the 23.6% Fibonacci retracement to test above the 14.6% level at 0.8497. A break above that aims for the 38.2% Fib expansion at 0.8556. Current positioning doesn’t offer a compelling entry point and we will stand aside for now, looking for an actionable setup to present itself.

View photo

.
Forex_Analysis_NZDUSD_Attempts_to_Reclaim_the_0.85_Level_body_Picture_5.png, NZD/USD Attempts to Reclaim the 0.85 Level

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.

Rates

View Comments (0)