NZD/USD Technical Analysis 02.20.2013
NZD/USD Technical Analysis- Prices put in a Bearish Engulfing candlestick pattern below resistance at the top of a Rising Wedge chart pattern, hinting a move lower is ahead. Initial support is in the 0.8315-55 area, with a break lower targeting swing lows at 0.8155 and 0.8052. Wedge resistance is now at 0.8540.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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