Forex: NZD/USD Technical Analysis – Candle Setup Hints at Bounce
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- Bullish Engulfing pattern formed at rising trend line support set from November 2011
- Candle setup hints at gains. Initial resistance at seen at 0.7917 (23.6% Fib retracement)
- Reversal below the trend line (now at 0.7721) exposes the June 24 swing low at 0.7682
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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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