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NZD/USD Technical Analysis 05.01.2013

Ilya Spivak

NZD/USD Technical Analysis– Prices narrowly edged above resistance at 0.8556, the 38.2% Fibonacci expansion, exposing the 50% level at 0.8617. A further break above that aims for the 61.8% Fib at 0.8678. Alternatively, a reversal back beneath 0.8556 eyes rising trend line support at 0.8433.

Forex_NZDUSD_Technical_Analysis_05.01.2013_body_Picture_5.png, NZD/USD Technical Analysis 05.01.2013

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

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