NZD/USD Technical Analysis – Prices broke below support at 0.7810, the 23.6% Fibonacci expansion, with sellers now testing the 38.2% level at 0.7726. A break below this targets the 50% Fib at 0.7609. Alternatively, a move back above 0.7810 eyes the 0.80 figure.
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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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