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NZD/USD Technical Analysis: Resistance Seen Below 0.82

NZD/USD Technical Analysis: Resistance Seen Below 0.82

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis – Prices broke higher as expected. The bulls have now cleared resistance at 0.8061, the 38.2% Fibonacci retracement, exposing the 50% level at 0.8179. The 0.8061 mark has been recast as near-term support, with a reversal back beneath that targeting the 23.6% Fib at 0.7916.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Resistance Seen Below 0.82

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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