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NZD/USD Classic Technical Report 07.06.2012

NZD/USD Classic Technical Report 07.06.2012

2012-07-06 06:06:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices continue to consolidate above resistance-turned-support in the 0.7971-87 area. The next upside barrier lines up at 0.8252, the 38.2% Fibonacci expansion. A break above this boundary exposes the 50% Fib at 0.8119. Alternatively, a break back below resistance exposes 0.7931 and 0.7857.

NZDUSD_Classic_Technical_Report_07.06.2012_body_Picture_5.png, NZD/USD Classic Technical Report 07.06.2012

4hr 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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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