U.S. Markets closed

NZD/USD Consolidating Around 0.85 Figure

Ilya Spivak

NZD/USD Technical Strategy: Flat

Prices are consolidating above around the 0.85 figure. Near-term trend line resistance is at 0.8565, with a break above that targeting swing highs at 0.8585 and 0.8675. Trend line support is at 0.8446. A move beneath that eyes a pivot support level at 0.8389. Current positioning doesn’t offer a compelling entry point and we will stand aside for now, looking for an actionable setup to present itself.

Forex_Analysis_NZDUSD_Consolidating_Around_0.85_Figure_body_Picture_5.png, NZD/USD Consolidating Around 0.85 Figure

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.