NZD/USD Technical Analysis: 4-Month Resistance Line in Play
NZD/USD Technical Analysis – Prices are pulling back from resistance at a falling trend line set from early April to probe underneath the 76.4% Fibonacci retracement at 0.8007. A break beneath that targets the 61.8% level at 0.7946. Alternatively, a move above the trend line (now at 0.8015) targets the July 25 high at 0.8106.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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