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NZD/USD Attempts to Reclaim the 0.85 Level

NZD/USD Attempts to Reclaim the 0.85 Level

2013-04-26 12:29:00
Ilya Spivak, Head Strategist, APAC
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NZD/USD Technical Strategy: Flat

Prices are bouncing from support at 0.8387, the 23.6% Fibonacci retracement to test above the 14.6% level at 0.8497. A break above that aims for the 38.2% Fib expansion at 0.8556. Current positioning doesn’t offer a compelling entry point and we will stand aside for now, looking for an actionable setup to present itself.

Forex_Analysis_NZDUSD_Attempts_to_Reclaim_the_0.85_Level_body_Picture_5.png, NZD/USD Attempts to Reclaim the 0.85 Level

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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