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Forex pairs in this Article » NZD/USD
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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)
Confirm your chart-based trade setups with the Technical Analyzer.

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