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NZD/USD Technical Analysis: Prices Pull Back from 0.81

Ilya Spivak

NZD/USD Technical Analysis – Prices broke higher as expected. Prices are now pulling back through the 23.6% Fibonacci retracement to test support at a rising trend line set from set from the July 8 low (now at ), with a break below that initially exposing the 38.2% level at 0.7944. Near-term resistance is at 0.8106, the July 25 high.

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dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Prices Pull Back from 0.81

Daily Chart - Created Using FXCM Marketscope 2.0

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

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