NZD/USD Technical Analysis– Prices are testing support in the 0.7757-86 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.

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

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