Forex Analysis: NZD/USD Classic Technical Report 12.17.2012

Prices are testing resistance at 0.8470, the February 29 high. A break above that targets rising channel resistance at 0.8547. Near-term support is in the 0.8317-55 area, with a drop below that exposing the channel bottom at 0.8166.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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