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NZD/USD Classical Technical Report 02.17

NZD/USD Classical Technical Report 02.17

2012-02-17 07:13:00
Joel Kruger, Technical Strategist
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Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 02.17

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 a break back below 0.8250 to confirm reversal prospects and open downside acceleration towards the 0.8000 area. A daily close back above 0.8425 however 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

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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