NZD/USD Technical Analysis– Prices are bouncing from support at 0.8390, the 61.8% Fibonacci expansion. Near-term resistance is at 0.8465, the 38.2% level, with a break above that targeting a falling trend line at 0.8538. A move below support eyes a rising trend line at 0.8362 and the 76.4% expansion at 0.8390.
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