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Forex: NZD/USD Technical Analysis – Rejected at Channel Top

Forex: NZD/USD Technical Analysis – Rejected at Channel Top

2013-12-13 05:44:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are falling after showing a Bearish Engulfing candle pattern at channel resistance
  • Closing below 0.8225 (23.6% Fib exp.) exposes 0.8158 (38.2% Fib exp.)
  • Falling channel resistance is now at 0.8294

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

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

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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