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Forex: NZD/USD Technical Analysis – Channel Top Under Fire

Forex: NZD/USD Technical Analysis – Channel Top Under Fire

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing resistance at 0.8313 (50% Fib ret., falling channel top)
  • A break higher initially targets 0.8368 (61.8% Fib retracement)
  • Turning below support at 0.8259 (38.2% Fib) aims for 0.8192 (23.6% Fib)

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

dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Channel Top Under Fire

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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