NZD/USD Technical Analysis – Prices pulled back from resistance at a falling trend line set from early April to test the 23.6% Fibonacci expansion at 0.7958. A break beneath that targets the 38.2% level at 0.7897. Alternatively, a move above the trend line (now at 0.8011) targets the August 12 high at 0.8056.
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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