NZDUSD Classic Technical Report 08.14.2012
Prices are testing support in the 0.8058-92 area after recoiling from critical falling trend line resistance capping gains since August 1, 2011. A break to the downside initially exposes trend line resistance-turned-support set from the February 29 swing high, now at 0.7953. Resistance is now at 0.8180, with a breach above that initially targeting the 0.82 figure and 0.8262.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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