Forex Analysis: NZD/USD Classic Technical Report 11.22.2012
Prices are pulling back anew after testing resistance at the underside of a previously broken rising channel set from late May (0.8247).Initial support lines up in the 0.8056-82 area, with a drop below that exposing the 50% Fibonacci retracement at 0.7962. Alternatively, a push above resistance targets a falling trend line at 0.8294.
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, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.