Forex Analysis: NZD/USD Classic Technical Report 11.16.2012

DailyFX

Prices are testing support in the 0.8064-0.8101 area, with a break lower exposing the 0.80 figure and the 50% Fibonacci retracement at 0.7962. Near-term resistance is at 0.8222, the underside of a previously broken rising channel set from late May, with a push above that targeting the 0.83 mark.

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Forex_Analysis_NZDUSD_Classic_Technical_Report_11.16.2012_body_Picture_5.png, Forex Analysis: NZD/USD Classic Technical Report 11.16.2012

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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