NZDUSD Classic Technical Report 10.18.2012
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 0.8270 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
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