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NZDUSD Classic Technical Report 07.12.2012

NZDUSD Classic Technical Report 07.12.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing support at 0.7928, the 23.6% Fibonacci retracement, with a finalized break exposing the 38.2% boundary at 0.7838. Near-term term resistance is at 0.7984 (the 14.6% retracement) for the time being, but would be shifted lower to 0.7928 if the downward breach is confirmed.

NZDUSD_Classic_Technical_Report_07.12.2012_body_Picture_5.png, NZDUSD Classic Technical Report 07.12.2012

8hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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