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NZD/USD Technical Analysis: Selloff Cut Short Sub-0.77

Ilya Spivak

NZD/USD Technical Analysis – Prices broke below support at 0.7810, the 23.6% Fibonacci expansion. Sellers now aim to challenge the 0.7682-0.7726 area marked by the June 24 low and the 38.2% level. A break below that targets the 50% Fib at 0.7609. Alternatively, a move back above 0.7810 eyes the 0.80 figure.

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dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Selloff Cut Short Sub-0.77

Daily Chart - Created Using FXCM Marketscope 2.0

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

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