NZD/USD Technical Analysis 06.03.2013
NZD/USD Technical Analysis– Prices broke below supportat 0.7977, the 38.2% Fibonacci expansion. Sellers now stand to challenge a major hurdle in the 0.7891-14 region, marked the confluence of the 50% Fib, the September 5 2012 swing low, and a rising trend line established from June 2009. A push below that initially eyes the 61.8% expansion at 0.7831. Alternatively, a move back above 0.7977 eyes the 23.6% level at 0.8067.
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, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.