NZD/USD Technical Analysis: Initial Resistance Challenged

DailyFX

NZD/USD Technical Analysis– Prices are recovering as suspected after putting in a Doji candlestick. Near-term resistance is at 0.7827, the 14.6% Fibonacci retracement, with a break above that targeting the 23.6% level at 0.7917. Support is seen at 0.7704, marked by a rising trend line set from March 2011.

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dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Initial Resistance Challenged

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

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