Forex: NZD/USD Technical Analysis – Critical Resistance at Risk
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- Prices rose as expected after forming a Bullish Engulfing at support set from Nov 2011
- Near-term resistance is in the 0.8062-96 area (triple top, 38.2% Fib retracement)
- Break higher targets 0.8179 (50% Fib); initial support is at 0.7917 (23.6% Fib)
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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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