Forex: NZD/USD Technical Analysis – Rally Stalls Below 0.85

Ilya Spivak

Fri, Oct 4, 2013, 8:36 AM

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Talking Points

Prices pulled back from channel support-turned resistance to test 0.8257 (23.6% Fib)
Break lower initially exposes 0.8147 (38.2% Fib retracement)
Resistance is now at 0.8435 (Sep high), followed by the channel bottom at 0.8449

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_nzd-usd_body_Picture_4.png, Forex: NZD/USD Technical Analysis – Rally Stalls Below 0.85

Weekly Chart - Created Using FXCM Marketscope 2.0

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

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