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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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