NZD/USD Technical Analysis 05.21.2013

DailyFX

NZD/USD Technical Analysis– Prices put in a Bullish Engulfing candlestick pattern, hinting a move higher is ahead. Initial resistance is at 0.8184, the 23.6% Fibonacci retracement, with a break above that exposing the 38.2% level at 0.8260. Near-term support is at 0.8060, the May 17 low.

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Forex_NZDUSD_Technical_Analysis_05.21.2013_body_Picture_5.png, NZD/USD Technical Analysis 05.21.2013

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

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