Forex: NZD/USD Technical Analysis – Neckline Above 0.82 Retested
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- Breaking neckline support at 0.8214 (38.2% Fib) points to a Head & Shoulders top in place
- Below 0.8113 (50% Fib) eyes 0.8011 (61.8% Fib); the H&S-implied target is 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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