Forex: NZD/USD Technical Analysis – Kiwi Sinks Back Under 0.80
NZD/USD Technical Analysis – Prices recoiled from resistance at 0.8110, the 100% Fibonacci expansion, to retest a falling trend line set from early April. This barrier is reinforced by the 38.2% Fib retracement at 0.7979. A break beneath this barrier initially exposes the 50% retracement at 0.7922. Alternatively, a move above resistance eyes the 123.6% expansion at 0.8210.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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