NZD/USD Technical Analysis – Prices broke higher as expected, clearing resistance at the top of a falling channel set from April. Buyers are now testing above the 23.6% Fibonacci expansionat 0.7917, with a push above this barrier clearing the way for a move to the 38.2% mark at 0.8062. Channel resistance-turned-support is now at 0.7785.
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 email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE