Forex: NZD/USD Technical Analysis – Kiwi Eyes 0.83 Level
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- Prices rose as expected after forming a Bullish Engulfing at support set from Nov 2011
- A break of resistance at 0.8179 (50% Fib) now exposes the 0.8296 level (61.8% Fib)
- 0.8179 is now support; a break below that eyes the 0.8062-96 area (triple top, 38.2% 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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