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Sunday, July 27, 2014

NZD/USD Technical Analysis

 The New Zealand Dollar is testing the boundaries of its year-to-date rising trend against the US Dollar having slumped following RBNZ interest rate decision. A daily close below support at 0.8535, the intersection of a rising trend line set from January and the 38.2% Fibonacci retirement, exposes the 50% level at 0.8443. Alternatively, a reversal above the 0.8652, the 23.6% Fib, opens the door for a test of the 23.6% retirement at 0.8722.


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