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Forex Analysis: NZD/USD Classic Technical Report 12.06.2012

Forex Analysis: NZD/USD Classic Technical Report 12.06.2012

Ilya Spivak, Head Strategist, APAC

Prices broke resistance at the top of a falling channel set from the mid-September swing top to expose the next upside barrier at 0.8317, marked by the April 13 high. A further a push above that targets the February 29 high at 0.8470. Channel top resistance-turned-support is at 0.8243, with a break back below that aiming for 0.8143.

Forex_Analysis_NZDUSD_Classic_Technical_Report_12.06.2012_body_Picture_1.png, Forex Analysis: NZD/USD Classic Technical Report 12.06.2012

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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