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NZD/USD Technical Analysis: Critical Trend Line in Play

Ilya Spivak

NZD/USD Technical Analysis– Prices are testing support in the 0.7754-86 area marked by a trend line set from August 2010 and the 38.2% Fibonacci expansion. A break below that targets the 50% level at 0.7678. Near-term resistance is at 0.7920, the 23.6% Fib.

dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Critical Trend Line in Play

Daily Chart - Created Using FXCM Marketscope 2.0

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

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