NZD/USD Technical Analysis: Rally Stalls at 4-Month Resistance
NZD/USD Technical Analysis – Prices are pulling back from resistance at a falling trend line set from early April to probe underneath the 76.4% Fibonacci retracement at 0.8007. A break beneath that targets the 61.8% level at 0.7946. Alternatively, a move above the trend line (now at 0.8023) targets the July 25 high at 0.8106.
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.