NZDUSD Classic Technical Report 10.11.2012

DailyFX

Prices took out support at 0.8193, exposing the bottom of a rising channel set from late-May (now at 0.8094). A break below that initially exposes 0.8035. The 0.8193 level has been recast as resistance, with a push back above that targeting trend line resistance at 0.8337.

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NZDUSD_Classic_Technical_Report_10.11.2012_body_Picture_5.png, NZDUSD Classic Technical Report 10.11.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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