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NZD/USD Technical Analysis 04.18.2013

Ilya Spivak

NZD/USD Technical Analysis– Prices broke downward after putting in a bearish Dark Cloud Cover candlestick pattern. Sellers are now testing support at 0.8387, the 23.6% Fibonacci retracement. A break below that exposes the 38.2% level at 0.8209. Near-term resistance is at 0.8497, the 14.6% Fib, with a reversal above that eyeing trend line support-turned-resistance at 0.8533.

Forex_NZDUSD_Technical_Analysis_04.18.2013_body_Picture_5.png, NZD/USD Technical Analysis 04.18.2013

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

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