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NZD/USD Technical Analysis 06.04.2013

NZD/USD Technical Analysis 06.04.2013

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Analysis– Prices put in a Bullish Engulfing candlestick pattern above major support at a rising trend line set from June 2009, hinting a move higher is ahead. Initial resistance is at 0.8112, the 23.6% Fibonacci retracement. A break above that targets the 38.2% level at 0.8219. Trend line support is now at 0.7893

Forex_NZDUSD_Technical_Analysis_06.04.2013_body_Picture_5.png, NZD/USD Technical Analysis 06.04.2013

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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