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Forex: NZD/USD Technical Analysis – Kiwi Probes Beyond 0.82

Forex: NZD/USD Technical Analysis – Kiwi Probes Beyond 0.82

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected after forming a Bullish Engulfing at support set from Nov 2011
  • A daily close above resistance at 0.8179 (50% Fib) exposes 0.8296 (61.8% Fib) next
  • Support is in the 0.8062-96 area (triple top, 38.2% Fib), followed by 0.7917 (23.6% Fib)

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

dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Kiwi Probes Beyond 0.82

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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