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NZD/USD Classical Technical Report 02.14

NZD/USD Classical Technical Report 02.14

2012-02-14 06:45:00
Joel Kruger, Technical Strategist
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Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 02.14

NZD/USD: After trading well into overbought territory, daily studies are finally starting to roll over to warn of a near-term top and potential bearish reversal. Look for the latest daily close back below 0.8285 to confirm reversal prospects and open downside acceleration towards the 0.8000 area. Back above 0.8410 negates and gives reason for pause.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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