NZD/USD Technical Analysis– Prices may be carving out an inverted Head and Shoulders (H&S) bottoming chart pattern. Confirmation requires a close above neckline resistance at 0.8322. That would expose initial Rising Wedge support-turned-resistance at 0.8387 but imply a measured upside objective at 0.8483. Near-term support is in the 0.8155-92 area.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE