NZD/USD Technical Analysis- Prices are testing above resistance in the 0.8460-75 area, with a break higher initially exposing the August 31 2011 high at 0.8571. In a broader sense, an upside breach would also complete an Ascending Triangle pattern, implying an upside target at 0.8788 (and coinciding with the major 2011 closing high).Near-term support is in the 0.8315-55 region, a barrier reinforced by a rising trend line set from late July.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE