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NZDUSD Classic Technical Report 09.21.2012

NZDUSD Classic Technical Report 09.21.2012

2012-09-21 07:57:00
Ilya Spivak, Head Strategist, APAC
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Prices pulled back to test support at 0.8223 after putting in a Shooting Star candlestick below resistance at falling trend line set from late-August 2011. A break below this barrier initially exposes 0.8047. Alternatively, a break above the trend line (now at 0.8350) targets the top of a rising channel established from the May 2012 lows at 0.8415.

NZDUSD_Classic_Technical_Report_09.21.2012_body_Picture_5.png, NZDUSD Classic Technical Report 09.21.2012

Daily 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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