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NZD/USD Technical Analysis: Multi-Year Support Line Held

NZD/USD Technical Analysis: Multi-Year Support Line Held

2013-08-07 10:08:00
Ilya Spivak, Head Strategist, APAC
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NZD/USD Technical Analysis – Prices are testing resistance at 0.7914, with a break above that targeting a falling trend line set from early April (now at 0.8038). Near-term support is at 0.7806. A drop back beneath that aims for a rising trend line connecting major swing lows since late November 2011, now at 0.7710

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_nzd-usd_body_Picture_12.png, NZD/USD Technical Analysis: Multi-Year Support Line Held

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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