NZD/USD Technical Analysis: Major Four-Year Support at Risk
NZD/USD Technical Analysis– Prices are testing critical support in the 0.7884-0.7921 region marked by the 61.8% Fibonacci retracement and a rising trend line set from June 2009. A break below that initially exposes the 76.4% level at 0.7743. Near-term resistance is at 0.8065, the 50% retracement, with a push above that eyeing the 0.8181-0.8209 area.
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