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NZD/USD Classic Technical Report 07.09.2012

NZD/USD Classic Technical Report 07.09.2012

2012-07-09 09:55:00
Ilya Spivak, Head Strategist, APAC
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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.

NZDUSD_Classic_Technical_Report_07.06.2012_body_Picture_5.png, NZD/USD Classic Technical Report 07.09.2012

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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