NZD/USD Technical Analysis– Prices are testing support at 0.8270, the 100% Fibonacci expansion. A break below that targets the 123.6% level at 0.8195. Near-term resistance is at 0.8344, the 76.4% Fib, with a reversal above that initially eyeing the 61.8% 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