NZDUSD Classic Technical Report 07.26.2012
Prices are testing the 23.6% Fibonacci expansion at 0.7835, with a break lower exposing the 38.2% level at 0.7686. Initial trend line support-turned-resistance is now at 0.7906, with a push above that targeting a lager downward-sloping barrier set from late February, now at 0.8015.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.