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NZD/USD Technical Analysis 02.08.2013

NZD/USD Technical Analysis 02.08.2013

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis- Prices continue to consolidate below resistance in the 0.8460-75 area. Near-term support is in the 0.8315-55 region, with a move below that targeting a rising channel bottom set from late July (now at 0.8288). Alternatively, a break above resistance aims for the August 31 2011 high at 0.8571.

Forex_NZDUSD_Technical_Analysis_02.08.2013_body_Picture_1.png, NZD/USD Technical Analysis 02.08.2013

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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