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NZDUSD Classic Technical Report 09.28.2012

NZDUSD Classic Technical Report 09.28.2012

Ilya Spivak, Head Strategist, APAC

Prices rebounded after putting in an Inverted Hammer candlestick above support at 0.8193 to retest resistance at a falling trend line set from late-August 2011, now at 0.8343. A break above this barrier exposes the top of a rising channel established from the May 2012 lows at 0.8445. Alternatively, a reversal through support targets 0.8047, a horizontal barrier reinforced by the channel bottom.

NZDUSD_Classic_Technical_Report_09.28.2012_body_Picture_5.png, NZDUSD Classic Technical Report 09.28.2012

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.