Prices are drifting cautiously lower after putting in a bearish Dark Cloud Cover candlestick pattern below falling trend line resistance set from mid-December. Initial support is in the 0.8315-55 area, with a break below that targeting rising channel support at 0.8249. Alternatively, a push above resistance (now at 0.8448) exposes the August 31 2011 high at 0.8571.

Forex_Analysis_NZDUSD_Classic_Technical_Report_01.24.2013_body_Picture_1.png, Forex Analysis: NZD/USD Classic Technical Report 01.24.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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