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Forex: NZD/USD Technical Analysis – Candle Marks Turn Lower

Forex: NZD/USD Technical Analysis – Candle Marks Turn Lower

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices declined as expected after putting in a Shooting Star candle
  • Support is at 0.8192 (Oct 2, 30 lows); below that eyes 0.8096 (former range top)
  • Above resistance at 0.8386 (23.6% Fib) targets 0.8435 (Sep 19 swing high)

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

dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Candle Marks Turn Lower

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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