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Forex Analysis: NZD/USD Classic Technical Report 12.05.2012

By , Currency Strategist
05 December 2012 06:21 GMT

Prices are testing the top of a falling channel set from the mid-September swing top (now at 0.8245), with a break higher initially exposing 0.8317. Upward-sloping support is at 0.8138, with a push below that targeting the channel bottom at 0.8053.

Forex_Analysis_NZDUSD_Classic_Technical_Report_12.05.2012_body_Picture_1.png, Forex Analysis: NZD/USD Classic Technical Report 12.05.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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05 December 2012 06:21 GMT