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Forex: NZD/USD Technical Analysis – Struggling to Advance

Forex: NZD/USD Technical Analysis – Struggling to Advance

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices put in a Bullish Engulfing candlestick, hinting at a bounce ahead
  • Initial resistance is at 0.8320 (14.6% Fib); a break above that eyes 0.8384 (23.6% Fib)
  • Near-term support is at 0.8216, the September 25 low

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

dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Struggling to Advance

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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