NZD/USD Technical Analysis– Prices are eyeing resistance at 0.7917, the 23.6% Fibonacci expansion, a barrier reinforced by the top of a falling channel set from April. A break above this boundary initially exposes the 38.2% level at 0.8062. Near-term support is at 0.7827, the 14.6% Fib, with a turn beneath that eyeing the June 24 low at 0.7682.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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