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Forex: NZD/USD Technical Analysis – Rally Stalls Below 0.85

Forex: NZD/USD Technical Analysis – Rally Stalls Below 0.85

2013-10-04 12:36:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices pulled back from channel support-turned resistance to test 0.8257 (23.6% Fib)
  • Break lower initially exposes 0.8147 (38.2% Fib retracement)
  • Resistance is now at 0.8435 (Sep high), followed by the channel bottom at 0.8449

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

dailyclassics_nzd-usd_body_Picture_4.png, Forex: NZD/USD Technical Analysis – Rally Stalls Below 0.85

Weekly 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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