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Forex: NZD/USD Technical Analysis – Head and Shoulders Top Set?

Forex: NZD/USD Technical Analysis – Head and Shoulders Top Set?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A break below 0.8214 (23.6% Fib) confirms a Head and Shoulders top formation
  • Clearingresistance in the 0.8382-0.8435area (Sep 18-19 highs) exposes 0.8543 (Oct 22 high)
  • A close below 0.8214 initially exposes 0.8112 (38.2% Fib retracement)

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

dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Head and Shoulders Top Set?

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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