NZD/USD Technical Analysis – Prices broke higher as expected. The pair has now pulled back through support at the 23.6% Fibonacci retracement (0.8006) to test a rising trend line set from set from the July 8 low (now at 0.7979), with a break below that initially exposing the 38.2% level at 0.7944. Alternatively, a move back above 0.8006 eyes the July 25 highat 0.8106.
Confirm your chart-based trade setups with the Technical Analyzer.
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