Forex: NZD/USD Technical Analysis – Channel Top Marks Reversal
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Talking Points
Prices have turned downward after putting in a Bearish Engulfing candle pattern
Closing below 0.8225 (23.6% Fib expansion) exposes 0.8158 (38.2% Fib exp.)
A further push lower eyes 0.8104 (50% Fib); back above 0.8225 eyes 0.8275 (channel top)
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
Contact and follow Ilya on Twitter: @IlyaSpivak
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