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NZD/USD Technical Analysis 02.28.2013

NZD/USD Technical Analysis 02.28.2013

2013-02-28 12:55:00
Ilya Spivak, Head Strategist, APAC
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NZD/USD Technical Analysis- Prices are retesting support-turned-resistance in the 0.8315-55 area, marked by horizontal pivots in play since mid-September and the underside of a broken Rising Wedge bottom. A break higher aims for Fibonacci retracement barriers at 0.8378 and 0.8415. Near-term support is at 0.8223, the February 26 low.

Forex_NZDUSD_Technical_Analysis_02.28.2013_body_Picture_5.png, NZD/USD Technical Analysis 02.28.2013

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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