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NZD/USD Technical Analysis 03.22.2013

NZD/USD Technical Analysis 03.22.2013

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis– Prices may be carving out an inverted Head and Shoulders (H&S) bottoming chart pattern. Confirmation requires a close above neckline resistance at 0.8322. That would expose initial Rising Wedge support-turned-resistance at 0.8387 but imply a measured upside objective at 0.8483. Near-term support is in the 0.8155-92 area.

Forex_NZDUSD_Technical_Analysis_03.22.2013_body_Picture_5.png, NZD/USD Technical Analysis 03.22.2013

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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