NZD/USD Technical Analysis– Prices are testing below resistance at 0.8387, the 23.6% Fibonacci retracement. A confirmed break on a daily close basis targets the 38.2% level at 0.8209. Near-term resistance is at 0.8530, a falling trend line set from the April 11 high.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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