NZD/USD Technical Analysis: 4-Month Resistance Challenged
NZD/USD Technical Analysis – Prices broke above resistance at 0.7914, exposing a falling trend line set from early April (now at 0.8024). This barrier is reinforced by support-turned-resistance at 0.8052. A push above the latter level targets 0.8155. The 0.7914 mark has been recast as near-term support, with a reversal back beneath that eyeing 0.7806.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. 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.