Forex: NZD/USD Technical Analysis – H&S Implies Drop Sub-0.79
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- A break of neckline support 0.8214 (38.2% Fib) hints a Head & Shoulders top is set
- Sellers now target 0.8113 (50% Fib); the H&S setup implies a measured target at 0.7885
- Reversing back above 0.8214 sees resistance in the 0.8382-0.8435 area (Sep 18-19 highs)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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