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Forex: NZD/USD Technical Analysis – Channel Bottom Broken

Forex: NZD/USD Technical Analysis – Channel Bottom Broken

2013-10-28 07:10:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A break of channel support set from late September exposes 0.8228 (38.2% Fib)
  • Pushing further beneath that eyes the 0.8096-0.8131 area (Jun-Aug range top, 50% Fib)
  • Reversing above the channel bottom (0.8315) targets 0.8349 (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 – Channel Bottom Broken

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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