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NZD/USD Technical Analysis: Uptrend Boundary at Risk

NZD/USD Technical Analysis: Uptrend Boundary at Risk

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis – Prices broke higher as expected. The pair has now pulled back through support at the 23.6% Fibonacci retracement (0.8006) to test a rising trend line set from set from the July 8 low (now at 0.7979), with a break below that initially exposing the 38.2% level at 0.7944. Alternatively, a move back above 0.8006 eyes the July 25 highat 0.8106.

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

dailyclassics_nzd-usd_body_Picture_10.png, NZD/USD Technical Analysis: Uptrend Boundary at Risk

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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