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Forex Analysis: NZD/USD Classic Technical Report 01.08.2013

Forex Analysis: NZD/USD Classic Technical Report 01.08.2013

Ilya Spivak, Head Strategist, APAC

Prices broke resistance in the 0.8317-55 area, exposing the February 29 high at 0.8470.A push above that exposes rising channel top resistance at 0.8590. The 0.8317-55 region is now acting as support, with a reversal back below that aiming for the channel bottom (now at 0.8209).

Forex_Analysis_NZDUSD_Classic_Technical_Report_01.08.2013_body_Picture_1.png, Forex Analysis: NZD/USD Classic Technical Report 01.08.2013

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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