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NZD/USD Technical Analysis 02.05.2013

NZD/USD Technical Analysis 02.05.2013

2013-02-05 12:21:00
Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis- Prices are testing resistance in the 0.8460-75 area, with a break higher exposing the next key barrier at 0.8571 (marked by the August 31 2011 high). Near-term support is in the 0.8315-55 region. A move below that targets a rising channel bottom set from late July, now at 0.8278.

Forex_NZDUSD_Technical_Analysis_02.05.2013_body_Picture_1.png, NZD/USD Technical Analysis 02.05.2013

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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