NZD/USD Technical Analysis– Prices are testing support at 0.8465, the 38.2% Fibonacci expansion, with a break lower exposing the 50% level at 0.8427. Near-term resistance is at 0.8511, the 23.6% Fib. A recovery back above that eyes the April 30 high at 0.8585.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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