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NZD/USD Testing Support Below 0.82 Figure

Ilya Spivak

NZD/USD Technical Strategy: Flat

Prices are testing support in the 0.8155-92 area. A break downward aims for the November 16 low at 0.8052. Initial resistance is at 0.8322, with a push above that exposing Rising Wedge bottom support-turned-resistance at 0.8369. Current positioning doesn’t offer a compelling entry point and we will stand aside for now and look for an actionable setup to present itself.

Forex_Analysis_NZDUSD_Testing_Support__Below_0.82_Figure_body_Picture_5.png, NZD/USD Testing Support Below 0.82 Figure

Daily Chart - Created Using FXCM Marketscope 2.0

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

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