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NZD/USD Technical Analysis: Recovery Attempted Above 0.77

NZD/USD Technical Analysis: Recovery Attempted Above 0.77

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis– Prices are attempting to recover as suspected after putting in a Doji candlestick. Near-term resistance is at 0.7827, the 14.6% Fibonacci retracement, with a break above that targeting the 23.6% level at 0.7917. Support is seen at 0.7705, marked by a rising trend line set from March 2011.

dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Recovery Attempted Above 0.77

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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