NZD/USD Classic Technical Report 07.04.2012
Prices are drifting higher after taking out resistance in the 0.7971-87 area, with buyers now challenging the 38.2% Fibonacci expansion at 0.8252. A break above this boundary exposes the 50% Fib at 0.8119. The 0.7971-87 region has been recast as near-term support. Negative RSI divergence warns a downswing may be ahead.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org