NZD/USD Technical Analysis 06.05.2013
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
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.