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Forex: NZD/USD Technical Analysis – Probing Trend Line Resistance

Forex: NZD/USD Technical Analysis – Probing Trend Line Resistance

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A close above resistance at 0.8334 (trend line) aims to expose 0.8382-0.8435 (Sep 18-19 highs)
  • Support is at0.8214 (38.2% Fib ret.); a close below that confirms a Head & Shoulders top
  • A downside breakout initially exposes 0.8112 (50% Fib retracement)

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

dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Probing Trend Line Resistance

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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