Singapore Markets close in 6 hrs 12 mins

Forex Analysis: NZD/USD Classic Technical Report 12.31.2012

Ilya Spivak

Prices moved lower as expected after putting in a Harami candlestick pattern below resistance at 0.8470, the February 29 high. Sellers pushed through support in the 0.8317-55 area and are now testing the bottom of a rising channel set from late July (0.8191). A break below that initially exposes 0.8052. The 0.8317-55 region is now acting as near-term resistance.

Forex_Analysis_NZDUSD_Classic_Technical_Report_12.31.2012_body_Picture_1.png, Forex Analysis: NZD/USD Classic Technical Report 12.31.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.