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Forex: NZD/USD Technical Analysis – Support Seen Sub-0.78

Forex: NZD/USD Technical Analysis – Support Seen Sub-0.78

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis – Prices recoiled from triple top resistance at 0.8096 to break below support at 0.7928, 23.6% Fibonacci expansion. Sellers now aim to challenge the 38.2% level at 0.7783, with a further push below that eyeing the 50% Fib at 0.7666. The 0.7928 mark has been recast as near-term resistance.

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

dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Support Seen Sub-0.78

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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