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Forex Analysis: NZDUSD Classic Technical Report 11.08.2012

Forex Analysis: NZDUSD Classic Technical Report 11.08.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing below rising channel support set from late May, now at 0.8183, with a break lower exposing the 23.6% Fibonacci retracement at 0.8113. Long-term trend line resistance is now at 0.8322.

Forex_Analysis_NZDUSD_Classic_Technical_Report_11.08.2012_body_Picture_5.png, Forex Analysis: NZDUSD Classic Technical Report 11.08.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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