NZD/USD Technical Analysis – Prices took out resistance at a falling trend line set from early April, exposing the 100% Fibonacci expansion at 0.8110. A break above that targets the 123.6% level at 0.8210. Near-term support is at 0.8010, the 76.4% Fib. A move below that aims for the 61.8% expansion at 0.7949.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.