NZD/USD Technical Analysis– Prices broke support at 0.8270, the 100% Fibonacci expansion, exposing the 123.6% level at 0.8195. A further break below that targets the 138.2% Fib at 0.8149. The 0.8270 level has been recast as near-term resistance, with a move back above that eyeing the 76.4% expansion at 0.8344.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE