Singapore Markets closed

Forex Analysis: NZD/USD Classic Technical Report 11.16.2012

Ilya Spivak

Prices are testing support in the 0.8064-0.8101 area, with a break lower exposing the 0.80 figure and the 50% Fibonacci retracement at 0.7962. Near-term resistance is at 0.8222, the underside of a previously broken rising channel set from late May, with a push above that targeting the 0.83 mark.

Forex_Analysis_NZDUSD_Classic_Technical_Report_11.16.2012_body_Picture_5.png, Forex Analysis: NZD/USD Classic Technical Report 11.16.2012

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.