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NZD/USD Technical Analysis 02.04.2013

NZD/USD Technical Analysis 02.04.2013

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis- Prices narrowly broke above falling trend line resistance set from mid-December, exposing the next key barrier at 0.8571 (marked by the August 31 2011 high). The trend line (now at 0.8440) has been recast as near-term support, with a reversal back below that initially targeting the 0.8315-55 area.

Forex_NZDUSD_Technical_Analysis_02.04.2013_body_Picture_1.png, NZD/USD Technical Analysis 02.04.2013

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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