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NZD/USD Classical Technical Report 03.16

NZD/USD Classical Technical Report 03.16

2012-03-16 08:53:00
Joel Kruger, Technical Strategist
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Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 03.16

NZD/USD: After trading well into overbought territory, daily studies are finally starting to roll over to warn of a near-term top and bearish reversal. The latest break and close below 0.8250 confirms outlook and should now accelerate declines towards next key support by 0.8000 further down. Rallies should now be well capped ahead of 0.8300.

--- Written by Joel Kruger, Technical Currency Strategist

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

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