NZDUSD Classic Technical Report 10.17.2012
Prices remain locked between 0.8140 and 0.8221, the 23.6% and 14.6% Fibonacci retracements, respectively. A break higher exposes a channel top at 0.8272 and a major falling trend line set from late August, now at 0.8334. Alternatively, a push below support exposes the 0.8009-47 area marked by a horizontal pivot level and the 38.2% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. 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 email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.