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NZDUSD Classic Technical Report 08.07.2012

NZDUSD Classic Technical Report 08.07.2012

Ilya Spivak, Head Strategist, APAC

Prices are aiming to challenge the 0.8230-62 area marked a former range bottom and the 76.4% Fibonacci retracement after clearing resistance in the 0.8082-92 region near the 61.8% level. A break to the upside exposes the 0.8400 figure. The 0.8082-92 area has been recast as support, with a push back beneath that targeting 0.80.

NZDUSD_Classic_Technical_Report_08.07.2012_body_Picture_5.png, NZDUSD Classic Technical Report 08.07.2012

Daily 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.