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Forex: NZD/USD Technical Analysis – Bouncing at Channel Bottom

Forex: NZD/USD Technical Analysis – Bouncing at Channel Bottom

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are pulling back from 0.8259 (38.2% Fib) to test below 0.8192 (23.6% Fib)
  • A close below support targets falling channel support at 0.8077
  • Reversing above 0.8259 targets 0.8313 (50% Fib, falling channel top)

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

dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Bouncing at Channel Bottom

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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