NZD/USD Technical Analysis – Prices broke higher as expected. The bulls have now cleared resistance at 0.8061, the 38.2% Fibonacci retracement, exposing the 50% level at 0.8179. The 0.8061 mark has been recast as near-term support, with a reversal back beneath that targeting the 23.6% Fib at 0.7916.
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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