NZD/USD Technical Analysis 05.08.2013

DailyFX

NZD/USD Technical Analysis– Prices are testing below support at a rising trend line set from mid-March (0.8437) to challenge the 61.8% Fibonacci expansion at 0.8390. A break below that targets the 76.4% level at 0.8344. Alternatively, a reversal back above 0.8437 targets a falling trend line set from the April 11 high (now at 0.8545).

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Forex_NZDUSD_Technical_Analysis_05.08.2013_body_Picture_5.png, NZD/USD Technical Analysis 05.08.2013

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

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