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Forex Analysis: NZD/USD Classic Technical Report 12.18.2012

Forex Analysis: NZD/USD Classic Technical Report 12.18.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing resistance at 0.8470, the February 29 high, with a Harami candlestick pattern warning that a pullback may be ahead. Near-term support is in the 0.8317-55 area, with a drop below that exposing the channel bottom at 0.8172.Alternatively, a break above resistance targets rising channel resistance at 0.8555.

Forex_Analysis_NZDUSD_Classic_Technical_Report_12.18.2012_body_Picture_1.png, Forex Analysis: NZD/USD Classic Technical Report 12.18.2012

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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