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NZD/USD Technical Analysis 05.14.2013

Ilya Spivak

NZD/USD Technical Analysis– Prices broke support at 0.8270, the 100% Fibonacci expansion, exposing the 123.6% level at 0.8195. A further break below that targets the 138.2% Fib at 0.8149. The 0.8270 level has been recast as near-term resistance, with a move back above that eyeing the 76.4% expansion at 0.8344.

Forex_NZDUSD_Technical_Analysis_05.14.2013_body_Picture_5.png, NZD/USD Technical Analysis 05.14.2013

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

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