Forex Analysis: NZD/USD Classic Technical Report 01.29.2013
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 0.8260. Alternatively, a push above resistance (now at 0.8446) exposes the August 31 2011 high at 0.8571.
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