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NZDUSD Classic Technical Report 10.04.2012

NZDUSD Classic Technical Report 10.04.2012

Ilya Spivak, Head Strategist, APAC

Prices are narrowly edged below support at 0.8193 but the break appears too narrow to be classified as a confirmed support breach for now. If downside momentum carries forward, sellers will target the next layer of support at 0.8047. The first layer of major resistance lines up at a falling trend line set from late-August 2011, now at 0.8342. A break above this barrier exposes the top of a rising channel established from the May 2012 lows at 0.8468.

NZDUSD_Classic_Technical_Report_10.04.2012_body_Picture_5.png, NZDUSD Classic Technical Report 10.04.2012

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.