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NZD/USD Technical Analysis 05.10.2013

NZD/USD Technical Analysis 05.10.2013

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis– Prices are testing below resistance at 0.8387, the 23.6% Fibonacci retracement. A confirmed break on a daily close basis targets the 38.2% level at 0.8209. Near-term resistance is at 0.8530, a falling trend line set from the April 11 high.

Forex_NZDUSD_Technical_Analysis_05.10.2013_body_Picture_5.png, NZD/USD Technical Analysis 05.10.2013

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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