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Forex: NZD/USD Technical Analysis – Selloff Stalling at Support

Ilya Spivak


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Talking Points


  • Prices have turned downward after putting in a Bearish Engulfing candle pattern
  • Breaking below 0.8225 (23.6% Fib expansion) has exposed 0.8158 (38.2% Fib exp.)
  • A further push lower eyes 0.8104 (50% Fib); above 0.8225 targets 0.8263 (channel top)


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dailyclassics_nzd-usd_body_Picture_4.png, Forex: NZD/USD Technical Analysis – Selloff Stalling at Support

Daily Chart - Created Using FXCM Marketscope 2.0




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


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