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Forex: NZD/USD Technical Analysis – Kiwi Stages Upside Breakout

Forex: NZD/USD Technical Analysis – Kiwi Stages Upside Breakout

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis – Prices took out resistance at a falling trend line set from early April, exposing the 100% Fibonacci expansion at 0.8110. A break above that targets the 123.6% level at 0.8210. Near-term support is at 0.8010, the 76.4% Fib. A move below that aims for the 61.8% expansion at 0.7949.

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

dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Kiwi Stages Upside Breakout

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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