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Forex: NZD/USD Technical Analysis – Critical Resistance at Risk

Ilya Spivak


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Talking Points


  • Prices rose as expected after forming a Bullish Engulfing at support set from Nov 2011
  • Near-term resistance is in the 0.8062-96 area (triple top, 38.2% Fib retracement)
  • Break higher targets 0.8179 (50% Fib); initial support is at 0.7917 (23.6% Fib)


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dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Critical Resistance at Risk

Daily Chart - Created Using FXCM Marketscope 2.0




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


Contact and follow Ilya on Twitter: @IlyaSpivak


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