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NZD/USD Technical Analysis 06.03.2013

NZD/USD Technical Analysis 06.03.2013

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis– Prices broke below supportat 0.7977, the 38.2% Fibonacci expansion. Sellers now stand to challenge a major hurdle in the 0.7891-14 region, marked the confluence of the 50% Fib, the September 5 2012 swing low, and a rising trend line established from June 2009. A push below that initially eyes the 61.8% expansion at 0.7831. Alternatively, a move back above 0.7977 eyes the 23.6% level at 0.8067.

Forex_NZDUSD_Technical_Analysis_06.03.2013_body_Picture_5.png, NZD/USD Technical Analysis 06.03.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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