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Forex Analysis: NZD/USD Classic Technical Report 11.16.2012

Forex Analysis: NZD/USD Classic Technical Report 11.16.2012

2012-11-16 08:18:00
Ilya Spivak, Sr. Currency Strategist
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Prices are testing support in the 0.8064-0.8101 area, with a break lower exposing the 0.80 figure and the 50% Fibonacci retracement at 0.7962. Near-term resistance is at 0.8222, the underside of a previously broken rising channel set from late May, with a push above that targeting the 0.83 mark.

Forex_Analysis_NZDUSD_Classic_Technical_Report_11.16.2012_body_Picture_5.png, Forex Analysis: NZD/USD Classic Technical Report 11.16.2012

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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