NZD/USD Technical Analysis – Prices broke higher as expected. Prices are now pulling back through the 23.6% Fibonacci retracement to test support at a rising trend line set from set from the July 8 low (now at ), with a break below that initially exposing the 38.2% level at 0.7944. Near-term resistance is at 0.8106, the July 25 high.
Confirm your chart-based trade setups with the Technical Analyzer.
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
- Utility Industry
- Finance Trading
- Technical Analysis