Forex Analysis: NZD/USD Classic Technical Report 12.19.2012

DailyFX

Prices are moving lower as expected after putting in a Harami candlestick pattern below resistance at 0.8470, the February 29 high. Near-term support is in the 0.8317-55 area, with a drop below that exposing the channel bottom at 0.8173.Alternatively, a reversal above resistance targets rising channel resistance at 0.8556.

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Forex_Analysis_NZDUSD_Classic_Technical_Report_12.19.2012_body_Picture_1.png, Forex Analysis: NZD/USD Classic Technical Report 12.19.2012

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

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