NZD/USD Technical Analysis– Prices are bouncing from support at 0.8387, the 23.6% Fibonacci retracement to target the 14.6% level at 0.8497. A break above that aims for Fib expansion barriers at 0.8556 and 0.8617. Alternatively, a turn below 0.8387 aims for the 38.2% mark at 0.8209.
Daily Chart – Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
— 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