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Forex: NZD/USD Technical Analysis – 2-Year Support Holds Up

Forex: NZD/USD Technical Analysis – 2-Year Support Holds Up

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Recovery launched at support marked by a rising trend line set from November 2011 (0.7719)
  • Breaking above 0.7917 (23.6% Fib) exposes the 0.8062-96 area (38.2% Fib, triple top)
  • Reversal below 0.7719 initially exposes the June 24 swing low at 0.7682

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

dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – 2-Year Support Holds Up

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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