NZD/USD Technical Analysis 02.15.2013

DailyFX

NZD/USD Technical Analysis- Prices completed a bullish Ascending Triangle chart pattern with a break above resistance in the 0.8460-75 area. Buyers initially target the August 31 2011 high at 0.8571 but the overall Triangle setup implies a measured target at 0.8788 (and coinciding with the major 2011 closing high).The 0.8460 level now marks the outer layer of near-term support. We have entered long.

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Forex_NZDUSD_Technical_Analysis_02.15.2013_body_Picture_5.png, NZD/USD Technical Analysis 02.15.2013

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

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