NZD/USD Classic Technical Report 07.09.2012
Prices took out resistance-turned-support in the 0.7971-87 area marked by the June 20 swing top and the 23.6% Fibonacci expansion. Sellers are now testing a horizontal barrier at 0.7931. A break below this boundary this barrier exposes the June 28 low at 0.7838. The 0.7971-87 region has been recast as resitance.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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