NZD/USD Technical Analysis– Prices are testing below support at a rising trend line set from mid-March (0.8437) to challenge the 61.8% Fibonacci expansion at 0.8390. A break below that targets the 76.4% level at 0.8344. Alternatively, a reversal back above 0.8437 targets a falling trend line set from the April 11 high (now at 0.8545).
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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