NZD/USD Technical Analysis– Prices narrowly edged above resistance at 0.8556, the 38.2% Fibonacci expansion, exposing the 50% level at 0.8617. A further break above that aims for the 61.8% Fib at 0.8678. Alternatively, a reversal back beneath 0.8556 eyes rising trend line support at 0.8433.
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