Forex: NZD/USD Technical Analysis – Kiwi Probes Above 0.84
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- Prices rose as expected after forming a Bullish Engulfing at support set from Nov 2011
- Near-term resistance is at 0.8437 (61.8% Fib); a break above that targets 0.8615 (76.4% Fib)
- Initial support is at 0.8293 (61.8% Fib expansion)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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