NZDUSD Classic Technical Report 10.10.2012
Prices took out support at 0.8193, exposing the bottom of a rising channel set from late-May (now at 0.8086). A break below that initially exposes 0.8035. The 0.8193 level has been recast as resistance, with a push back above that targeting trend line resistance at 0.8339.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.