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NZD/USD Technical Analysis: Move Beyond 0.80 Eyed

By , Currency Strategist
19 July 2013 11:21 GMT

NZD/USD Technical Analysis – Prices broke higher as expected, clearing resistance at the top of a falling channel set from April. Buyers are now testing above the 23.6% Fibonacci expansionat 0.7917, with a daily close above this barrier clearing the way for a move to the 38.2% mark at 0.8062. Channel resistance-turned-support is now at 0.7797.

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dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Move Beyond 0.80 Eyed

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

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19 July 2013 11:21 GMT